Reported 8 months ago
The Ministry of Finance held a pre-meeting with the eight major state-owned banks to introduce undertakings for the 'New Qing'an' program, aimed at preventing illegal activities such as subletting and speculative investment in the housing market. If discovered, borrowers could end up paying an additional $2,101 per month for a ten million housing loan with a low interest rate. The new regulations will also apply retroactively to existing borrowers. This initiative is expected to impact the current real estate investment trend in Taiwan, especially in high-demand areas like Kaohsiung, where transactions have significantly increased since the introduction of 'New Qing'an' in 2021.
Source: YAHOO