Reported 12 months ago
FTNN News Network reported on June 30, 2024, about the government implementing stricter measures for the Green Youth Housing Loan, responding to issues like fake applicants. Real estate expert He Shichang questioned the effectiveness of the new regulations, which now restrict the loan to once in a lifetime and require a commitment to self-occupy for 40 years. He criticized the government for prioritizing presale housing over the secondary housing market. The Ministry of Finance aims to ensure fair use of government resources through these changes. As of May, the Green Youth Housing Loan has benefited mostly young adults below the age of 40, aiding them in purchasing homes for self-occupation.
Source: YAHOO