Executive Yuan Approves Qingan 3.0 to Support Marriage and Child-Rearing, House Price Cap Set at NT$35 Million in Taipei

(Central News Agency reporters Lai Yu-chen and Yeh Su-ping, Taipei, 16th) The Executive Yuan meeting today approved the 'Qingan 3.0' plan, introducing new age, house price, and income eligibility thresholds. Interest subsidies will be gradually phased out, while a five-year grace period will remain. Applicants must be under 50 years old, and the sum of the applicant's age and loan term must not exceed 80 years. The new plan will run for six years and take effect on August 1.

House purchase price limits are set regionally, ranging from NT$20 million to NT$35 million. Taipei City has the highest cap at NT$35 million, followed by New Taipei City and Hsinchu County and City at NT$25 million, while other counties and cities are capped at NT$20 million. For income eligibility, borrowers must have an annual personal income of no more than NT$2 million. To support marriage and child-rearing, loan limits for families newly married within two years or with children are raised to NT$12 million.

The government launched the 'Youth Homeownership Loan Program' (Qingan 1.0) in December of the 99th year of the Republic of China (2010), followed by the 'Qingan Loan Enhancement Plan' (Qingan 2.0) in August 2023. Qingan 2.0 offered up to 80% loan-to-value ratio, a maximum loan amount of NT$10 million, a maximum loan term of 40 years (including a five-year grace period), and interest subsidies from public funds and the Ministry of the Interior's Housing Fund, with a minimum interest rate of 1.775%, set to expire at the end of July.

Today, the Executive Yuan approved the report on the 'Youth Homeownership Loan Program 3.0', effective August 1 for six years. In addition to supporting marriage and child-rearing, the plan introduces new age, house price, and income eligibility thresholds, with interest subsidies gradually phased out, while maintaining the five-year grace period.

Executive Yuan spokesperson Lee Hui-chih, during the post-meeting press conference, relayed instructions from Premier Cho Jung-tai: to prevent speculation, Qingan 3.0 maintains a one-time lifetime loan limit, self-declaration, pre-loan review, and enhanced post-loan management. The Ministry of Finance is also instructed to supervise public banks to actively implement the program and effectively assist young first-time homebuyers, reducing housing burdens for marriage and child-rearing families.

Under Qingan 3.0's age restrictions, applicants must be under 50, and the sum of their age and loan term must not exceed 80 years. For example, a 49-year-old applicant must have a loan term of 31 years or less.

Regarding interest subsidies, the first three years of Qingan 3.0 will maintain the 1.775% rate, with gradual annual adjustments to 1.9%, 2.025%, and 2.15% over the following three years. For income eligibility, the borrower's annual income of NT$2 million serves as the qualification threshold.

Loan amount limits under Qingan 3.0 remain at NT$10 million, but for newlywed families and parenting families, the limits are increased to NT$12 million and NT$15 million, respectively. (Edited by Lin Shu-yuan) 1150716