Supervisors Concerned About New Youth Housing Loan Program; Ministry of Finance Says It Will Balance Homeownership Needs and Housing Justice

(Central News Agency, Taipei, June 20) Supervisors Cai Chong-yi and others pointed out in a press release today that if the New Youth Housing Loan program is to continue in the future, it should avoid becoming a catalyst for rising housing prices. An official from the Ministry of Finance responded that the follow-up plan for the New Youth Housing Loan program is still under discussion, and they will continue to collect opinions from all sectors, balancing the homeownership needs of young people with housing justice.

Supervisors Cai Chong-yi, Wang Mei-yu, and Yeh Ta-hua investigated the "Supervision Mechanism for Interest Subsidies for New Youth Housing and Agricultural Loans." The investigation was recently approved by the Internal Affairs and Ethnic Affairs Committee of the Control Yuan. The committee requested that the responsible authorities implement control measures and prudently formulate policies to ensure that the government's limited resources are precisely applied to the core objectives of the policies and to realize housing justice.

Supervisors pointed out that the control and supervision mechanisms for policies such as the New Youth Housing and Agricultural Loans were initially not comprehensive. After adjustments, over NT$200 million in interest subsidies for non-compliant cases were recovered. Both policies are due to expire in July and September, respectively. If they are to continue in the future, the institutional配套 (supporting measures) should be perfected to avoid becoming a tool for speculators to profit and a catalyst for rising housing prices.

An official from the Ministry of Finance told CNA that the Ministry of Finance is still collecting opinions on the New Youth Housing Loan program, as many suggestions have been received from the public during its implementation. The Ministry of Finance will continue to collect opinions and, while meeting the homeownership needs of young people, will prevent investors from speculating through mechanisms, as "houses are for living in."

The New Youth Housing Loan program is set to expire on July 31. According to media reports, the planned directions include the gradual phasing out of interest subsidies and a cap on the combined age of the borrower and loan term not exceeding 80 years. The official from the Ministry of Finance stated that these points have been discussed but not yet finalized. The Ministry of Finance is continuously communicating with the Executive Yuan, and once the plan is confirmed, it will be submitted to the Executive Yuan for approval before being publicly announced.

Regarding the suggestion from legislators to increase the loan amount for newly married and child-rearing families, Minister of Finance Chuang Tsui-yun stated at the Legislative Yuan the other day that newly married and child-rearing families generally require larger homes, which is a direction that can be considered and will be taken into reference. (Editor: Lin Shu-yuan) 1150620

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