Reported 11 months ago
Since the government introduced the 'New Youth and Peace Preferential Loan' in August last year to help first-time home buyers, some have exploited the system for various fraudulent activities like fronting and professional renting. Eight major banks are planning to take action to prevent such abuses and are considering anti-fraud measures. Additionally, the recent 'New Youth and Peace' policy has contributed to the rise in housing prices, prompting the central bank to potentially implement a sixth round of real estate cooling measures, including possibly reducing the loan-to-value ratio for the second home to 60% and expanding regulations to cover a wider scope.
Source: YAHOO