Home buyers face higher down payments: reportBy Crystal Hsu / Staff reporterProspective home buyers might have to come up with bigger down payments as local banks become increasingly conservative in issuing housing loans with the central bank warning against lax lending practices, a report by My Housing Monthly said yesterday. New houses in northern Taiwan with loan-to-value ratios (LTVs) of 80 percent dropped to 49 percent of all cases this year, the lowest since 2018 when the property market started to improve, the report said. Photo: Hsu Yi-ping, Taipei Times“The [central bank’s] moral suasion and two waves of selective credit controls appear to have worked, judging from the lending trend,” Ho said. Buyers would have to fork out more money when developers turn over ownership of completed residences, Ho said. Small apartments have been an easy sell over the past few years, while large luxury homes have difficulty finding buyers, it said.

Source: Taipei Times May 20, 2021 15:56 UTC