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384,000 citizens have multiple loans
The number of people with multiple loans in Taiwan has reached a 13-year high, with average debt climbing to NT$7 million.
According to the Joint Credit Information Center, as of October last year, the total number of home loan borrowers in Taiwan hit a record 2.2 million, or around 10% of the population.
Among them, those who have multiple loans, including mortgages and other types of credit, increased by 27,000 over one year, bringing the total to 384,000 people, the highest in history.
Home loans now average NT$6 million, while personal loans average NT$1.08 million. Experts say that rising property prices and inflation, coupled with shrinking wages and savings, have driven many to rely on personal loans to cover costs. In addition, tighter housing loan policies and reduced mortgage limits implemented in the latter half of 2024 further pushed borrowers toward personal loans.
