New housing market measures to take effect in July
The government's new housing market schemes will be taking effect early next month. The measures are aimed at helping renters and tackling real estate speculation in the housing market.
Revisions to the Equalization of Land Rights Act, which was amended earlier this year and will take effect on 1 July and they're aimed at curbing speculation in the property market through several measures.
One of those key new regulations bans the reselling or transfer of purchase agreements for pre-sold or newly constructed residential units to third parties.
The interior ministry will also begin accepting applications from home renters for rent subsidies offered by the central government on 3 July. Those subsidies range from between NT$2,000-8,000 per month, depending on the location of the rental unit.
Meanwhile, the National Housing and Urban Regeneration Center will begin working with local governments on 3 July to launch a new phase of the social housing programme.
Under that programme, developers who build or renovate structures to be used as social housing will receive subsidies for the project and insurance coverage, while renters will receive subsidies when they move in.