Reported about 1 year ago
As housing prices remain high and real wages decline in Taiwan, the Ministry of the Interior is exploring the concept of 'renting homes to get married and have children' to address housing justice. While controlling speculation in the housing market has been attempted, rigid demand persists. Government officials note that the tools to control housing prices lie with financial and tax authorities, citing that raising interest rates could lower prices, but considering the high homeownership rate of 80% in Taiwan, a price drop could lead to socioeconomic issues. Proposals to stabilize housing prices include enhancing the rental market and providing subsidies to reduce housing costs. However, the deep-rooted belief in owning property remains among Taiwan's population, with some viewing renting as a compromise due to financial constraints rather than an ideal state. Drawing inspiration from the Netherlands, where renting is common, Taiwan's efforts to increase social housing stock to 25,000 units by 2032 still fall short compared to the total housing stock of 9.2 million. To shift public perception away from 'buying a house to start a family' and toward the stability of renting, more incentives and policies are needed to convince the population that renting is not just a compromise and that the dream of owning a home can still be achieved, despite the challenges.
Source: YAHOO