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New housing loan program offers greater support for young homebuyers


At the Cabinet's weekly meeting Thursday, Premier Cho Jung-tai received a Ministry of Finance (MOF) briefing on the results of a new housing loan program to support young homebuyers along with related improvement measures. The premier said the loan program was launched by the MOF in August 2023; it increases loan amounts, provides additional loan interest subsidies, and extends both loan repayment deadlines and grace periods. The program has alleviated financial burdens for many young families, assisting home purchases for over 50,000 previously non-homeowning households by the end of May 2024.

Premier Cho said this administration remains committed to promoting housing justice, combating property speculation and taking care of young people, and will not sit idly by when disruptive elements undermine the orderly functioning of real estate market transactions. The premier instructed the MOF to step up its supervision of the market and fully implement the Bankers Association of the Republic of China's regulations on property speculation and the use of dummy buyers to apply for preferential housing loans by investors. Premier Cho also asked the MOF to closely cooperate with the local governments in thoroughly investigating all forms of real estate speculation, in order to facilitate the sound development of the overall housing market.

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