Premier Su Tseng-chang on Thursday received a Ministry of the Interior briefing on a central government program to expand rental subsidies to NT$30 billion (US$1 billion). This policy will increase the approved budget for subsidies to NT$30 billion, the premier said, and substantially increase the amount provided to young singles, newlyweds, households with minor children (including unborn children), and socially or economically disadvantaged households. This will greatly alleviate the financial burden placed on renters.
In 2019, rent subsidies were granted to 60,000 households. In 2021, this figure was increased to 120,000 households, but the government received 160,000 household applicants that year, indicating that demand outstrips supply. The central government thus approved a decisive increase in coverage to 500,000 households this time. The budget of NT$30 billion also represents a substantial increase from the previous NT$5.7 billion (US$199.1 million). Furthermore, the additional funds will benefit young singles, newlyweds, families with minor children (including unborn children), and economically or socially disadvantaged groups.
Since the benefits will be expanded to cover 500,000 households across Taiwan, and assuming three people per household, the policy will benefit and reduce the financial burdens of 1.5 million people. These rental subsidies will allow young people just entering society to have more financial leeway to enjoy their lives. The application process will also be simplified: Qualified individuals and families may begin applying for the subsidies starting July 1, and the central government will deposit the subsidies directly into renters' bank accounts in October.