Central bank tightens mortgage gripOVERHEATING: The measures would not affect first-time homebuyers or people with real demand, but are aimed at corporate and individual investors, the governor saidBy Crystal Hsu / Staff reporterThe central bank yesterday tightened credit controls for real-estate financing after verbal warnings failed to rein in property price hikes linked to capital repatriation and loose lending. Central bank Governor Yang Chin-long answers questions from reporters at a news conference at the bank in Taipei yesterday. It is better to act now, if credit controls are necessary to reverse the trend, he added. That explains why housing prices in the proximity of science parks in Hsinchu, Taichung and Tainan have risen, as have housing prices in rezoning areas nationwide, the central bank governor said. The central bank would further tighten credit controls if the situation fails to improve, Yang said.

Source: Taipei Times December 07, 2020 16:01 UTC