TAIPEI (TVBS News) — Taiwan's housing market witnessed a surge in mortgage applications among young buyers in the second quarter of 2024, with the 25-35 age group leading the charge, according to the latest data released in October from the Joint Credit Information Center (JCIC, 聯徵中心).
The JCIC reported nearly 19,500 mortgage samples from this demographic, marking a more than 50% increase compared to the same period in 2023. The primary age groups applying for mortgages remain 30-35, 35-40, and 40-45, each with around 12,000 samples.
Sinyi Realty Inc (信義房屋) research manager Tseng Ching-der (曾敬德) analyzed that the housing market was buoyant in the second quarter, with the New housing loan program for young homebuyers remaining favorable for first-time buyers, particularly those aged 25-35.
The trend of delayed marriage and childbirth has pushed the age of first-time homebuyers to older groups. The 35-40 age bracket saw a 44% increase in new mortgage samples this quarter. The 25-30 age group added 7,955 mortgage samples, a 54% annual increase, with an average mortgage of NT$9.19 million. Meanwhile, the 30-35 age group recorded 11,569 new samples, a 52% increase, with an average mortgage of NT$9.84 million.
The New housing loan program for young homebuyers' NT$10 million mortgage cap caters to most needs, ensuring resources are available for first-time buyers. As mortgage resources tighten, these first-time buyers will likely remain the least affected group.