New rules for Chinese investment in the Taiwanese property market are set to enter into force on July 1.
According to current rules, Chinese citizens who buy properties in Taiwan cannot sell them within three years of purchase. They are allowed to stay in Taiwan for no more than a total of four months a year and cannot take out mortgages that exceed 50% of the properties’ value. In addition, Taiwan allows only the sale of 400 apartments to Chinese citizens each year.
An interior ministry official said on Friday that regulations were amended in March in order to prevent the concentration of Chinese investment in specific locations. The new rules set to take effect in July stipulate that Chinese citizens cannot acquire more than 10% of the property units within the same building or building complex.
Taiwan opened its property market to Chinese investors in 2002. As of the end of May, Chinese citizens have acquired 399 properties. 204 of these were approved by the interior ministry.