Taiwanese men aged 30-40 face record mortgages as home prices soar

Younger fathers in Taiwan are facing a significantly steeper climb to homeownership, with the average mortgage for men aged 30-40 now surpassing 10 million New Taiwan dollars. This figure represents a substantial increase of nearly 4 million dollars compared to a decade ago, reflecting a sharp rise in property prices.

In the first quarter of this year, men in this age group purchased homes averaging 14.73 million NT dollars. To manage the substantial down payments and subsequent costs, many are opting for 30-year mortgage terms to lower monthly payments. This trend highlights the financial pressures on dual-income families starting out.

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Each generation of fathers has different growth environments and worries.

Data from the Credit Information Office shows that in the first quarter of 2016, the average home price for this demographic was 9.21 million NT dollars, with an average mortgage of 6.36 million NT dollars. The current figures underscore a decade of escalating housing costs, making it increasingly difficult for new fathers to enter the property market without external support.

Real estate experts suggest that financial assistance from parents is becoming a common way for younger generations to afford homes. This support, whether through direct contributions or helping with mortgage payments, is crucial for many aspiring homeowners. The government also offers programs like the "Qing An 3.0" loan and rental subsidies to ease the financial burden on first-time buyers and renters.

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If the original family has some ability, in order to help the children get married and have grandchildren early, many elders will help with money and effort.