The Executive Yuan yesterday approved a suite of measures aimed at making housing more affordable for young families and offering flexible parental leave.
The policies include the “Stable Housing Plan” to provide more social housing for newlyweds and parents of preschoolers, as well as protections for renters, preferential loans for young homebuyers and flexible parental leave policies.
The Stable Housing Plan, which is to run through 2028, would ensure that 20 percent of social housing is allocated to families with children younger than six and couples who have been married for less than two years, Deputy Minister of the Interior Dong Jian-hong (董建宏) told a news conference following the weekly Cabinet meeting.
Photo courtesy of the New Taipei City Urban and Rural Development Bureau
Successful applicants would be allowed to live in the units for up to 12 years — double the six-year term for regular social housing tenants, Dong said.
About 1,000 units would be released this year with a target of 11,000 by 2028, National Land Management Agency Director-General Wu Hsin-hsou (吳欣修) said.
The two groups would also be eligible for an additional NT$6,000 (US$195.41) per year in subsidies to improve safety in the home for children, Dong said.
Eligibility would also be expanded for rent subsidies, set to rise to 3.5 times the minimum cost of living, plus an additional 150 percent for newlyweds and 50 percent per child, he said.
The rental programs are expected to benefit 483,000 households, including rent subsidies for 315,000 households and rental housing management programs covering 168,000 households, Wu said.
The Cabinet has approved a budget of NT$27 billion, with the programs to commence on Jan. 1 next year, he added.
To address disputes between landlords and tenants, the Cabinet would seek to amend the Rental Housing Market Development and Regulation Act (租賃住宅市場發展及管理條例) at the end of this month, the Ministry of the Interior said.
The amendments would stop landlords from preventing tenants from applying for rent subsidies or applying for household registration at rented properties, with those who contravene the rules to face fines, it said.
Moreover, landlords would need to provide six months notice before any rent increases, which should not exceed the annual growth rate of the rental index for the month in which the notice is given, it added.
Tenants would be entitled to a three-year lease term, including the initial contract and the renewal period, the same guarantee granted to social housing renters, it said, adding that landlords may only reclaim properties for personal use.
The amendments would allow tenants to apply for free mediation through local offices or seek free legal aid for disputes, it said.
Meanwhile, a preferential housing loan program aims to exclude young homebuyers from restrictions on banks’ loan ratios.
According to Article 72-2 of the Banking Act (銀行法), the total amount offered by commercial banks for real-estate loans cannot exceed 30 percent of the aggregate deposits and financial debentures.
Young homebuyers applying for mortgages would not be included in the 30 percent cap, giving banks more lending capacity to help young people get on the property ladder, the Cabinet said.
The new guidelines took effect on Monday, it added.
The government would continue to regulate credit to ensure that funds are allocated appropriately and where they are most needed, it said.
Each person could only use the program once, while applicants must sign a pledge that they would personally occupy the property, with the government to implement cross-ministerial checks, officials said.
Penalties such as loan term adjustments and removal of interest subsidies would be imposed in situations where the rules are broken such as by subletting, using dummy accounts or house flipping, it added.
Not every applicant would be eligible for the maximum NT$10 million loan or a 40-year mortgage, it said.
As for family leave policies, parents would now be able to apply for leave by the day with up to 30 days available per parent per year, while those responsible for family care could take leave on an hourly basis, the interior ministry said.
Currently, workers with children under three can take parental leave for up to two years, and family care leave, included in the 14 days of annual personal leave, for up to seven days per year.
The policy aims to boost the participation of fathers in child-rearing and offers them the same leave options as mothers, the ministry said.
Family care leave can also be taken by the hour to address urgent needs, eligible for parents and those caring for elderly family members, it said.
In addition, the government would support employers in providing care leave by providing a NT$1,000 daily subsidy per family care day for firms with fewer than 30 employees, it added.
The revised rules are expected to benefit about 10 million workers, it said.
Employers who deny parental leave requests or interfere with how workers schedule such leave face a maximum fine of NT$300,000, it said.
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