Owner-Occupier Demand Supports Mortgages; Public Banks See Slight Growth in Q1

Affected by the central bank's selective credit controls, the real estate market has bottomed out, and the growth momentum of mortgage balances at public banks in the first quarter of this year has slowed, mostly showing a slight increase in the 5% to 7.5% range. Bank executives analyze that there is still rigid demand for owner-occupancy and home-swapping in the market, and combined with the wave of new property handovers from projects launched in previous years, the overall mortgage business is expected to continue growing steadily. Land Bank of Taiwan pointed out that the main growth driver is the handover of new properties, with the highest growth in New Taipei City, Kaohsiung City, and Taoyuan City. Other banks like First Bank and Chang Hwa Bank are prioritizing loans for first-time buyers and owner-occupiers, noting that the market is in a phase of 'reduced volume and price consolidation.' Banks plan to continue monitoring market trends and aim for steady growth.