Central Bank Considers New Mortgage Restrictions 房價上漲熱區 央行擬祭第2戶限貸令

Central Bank Governor Yang Chin-long hinted that it is not ruled out mortgage restrictions on second homes would be implemented to combat rising house prices, leading to dissatisfaction among real estate developers.

Secretary-General, Federation of the Real Estate Dev. Associations of ROC: “There is also a shortage of labor and materials. Land prices are also rising. Implementing a policy of mortgage restrictions on second homes in hot areas will cause some losses.”

Associations took the lead to oppose mortgage restrictions on second homes in the hot housing markets. The Federation says it was too targeted and might hurt innocent people. They believe it will affect the real estate market. Real estate experts say that the Central Bank has been ineffective at cooling real estate speculation and has no more tricks up its sleeves.

He Shih-chang, R&D Director, My Housing Magazine: “The government is really running out of measures to cool the housing market. Most of its means are to suppress demand. You've been trying to suppress housing prices all this time and it's still no use in the end. So people will lose confidence in the government.”

According to data on the number of homes sold and transferred in the six special municipalities, Taoyuan City's Taoyuan District ranked first in 2021, with more than 11,600 transactions. Next is Taichung's Beitun District, with more than 9,000 transactions. It is closely followed by Taoyuan's Zhongli District, with more than 8,300 transactions. Additionally, New Taipei City's Banqiao, Zhonghe, Tamsui, Xinzhuang Districts, Kaohsiung's Sanmin District, Taichung's Xitun District, and Taoyuan's Guishan District are all among Taiwan's top ten real estate hotspots.

Hsu Chia-shin, Manager, Planning and Research Office, H&B Real Estate: “They may have further measures on some cheap areas such as Changhua, Chiayi, Pingtung, or the East Coast, where prices were artificially bid up in the past.”

Civic groups calling for housing justice support mortgage restrictions on second homes in hot real estate areas. They say the government should strengthen its efforts to rein in real estate speculation rather than just talking without actual action.

Peng Yang-kai, Secretary-General, OURs: “It is effective if the real estate industry is jumping out to oppose it. This should hit the sore spot. We support the Central Bank in this policy and I think they need to hurry up.”

The Central Bank launched its fourth wave to combat real estate speculation in December 2021 with four major points. This included the purchase of luxury houses by individuals and reducing the maximum loan to house value to 40 percent on mortgages for third and above homes. The Central Bank's Board of Supervisors next week will review the effectiveness of previous policies. Mortgage restrictions on second homes can also be put forward for discussion.













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