Reported 9 months ago
The 'New Youth Housing Loan,' originally designed to help young people buy homes with reduced loan burdens, is now seen as a primary cause of rising house prices and issues like dummy accounts and rent flipping. To address these problems, the government has introduced new measures effective immediately, requiring new borrowers to sign a 'self-occupied statement' to prevent rental properties and adding a new rule limiting loans to once per person to deter speculation. The aim is to assist young people in buying homes but prevent misuse of the loan program for speculative purposes.
Source: YAHOO