Taiwan Immigrants' Global News Network-The rent subsidy policy gives priority to renters and low-income mortgage families

Introduction of renting and mortgage policies and guidelines.Photo provided by Ministry of the Interior, R.O.C. (Taiwan)

According to the Ministry of the Interior, 270,000 households have been approved since 2019. The rent subsidy policy has been directly distributed by the central government for the first time since 2022, benefiting many underprivileged families, new graduates, and newlyweds. Five significant renovation initiatives for rent subsidy have also been made this year. The lease contract does not necessarily need to include the landlord's ID number for new tenants, and there are fewer restrictions on how the residence may be used. Those who do not have information can be processed in affidavit. The age restriction is relaxed to include all tenants over the age of 18, allowing students to also benefit from renting homes. But perhaps most importantly, it's incredibly convenient that applications are evaluated on an ongoing basis.

Introduction to Home Loan Support Scheme for Self-use.Photo provided by Ministry of the Interior, R.O.C. (Taiwan)

Targets who have a household income of less than NT$1.2 million in 2021 are eligible for housing loan subsidies. They have a debt and just one residence that they utilize for their own purposes. The loan amount is less than NT$ 8.5 million if it locates in Taipei City. Excluding new loan households, loan households with application eligibility base dates before to February 28, 2023 for amounts under NT$ 7 million will contribute NT$ 30,000 in quota assistance each month following approval. It is anticipated that around 550,000 loan families across the nation will benefit when the measure is enacted.

The proposal intended to "reduce housing burden and improve living quality" is not relevant to persons who purchase expensive properties, according to the Ministry of the Interior. High housing costs will not be covered by those who rent out their homes as landlords.

The rent subsidy policy gives priority to renters and low-income mortgage families

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