Foreigners buying houses in Taiwan, just having a residence permit is not enough: Confirm these three things before viewing houses

Can foreigners buy houses in Taiwan? The answer is: it's possible, but not everyone, every type of house, or every type of land can be directly purchased. Many people think that as long as they have a residence permit, work in Taiwan, or have lived there for many years, they can buy a house like a Taiwanese. In fact, before you start looking at houses, the most important thing is not to compare prices first, but to confirm three things: whether your nationality meets the regulations, whether the house you want to buy can be registered under a foreigner's name, and whether the bank is willing to provide a mortgage. First thing: Does your nationality comply with the "Principle of Reciprocity"? Taiwan adopts the "Principle of Reciprocity" for foreigners acquiring real estate. Simply put, if your country also allows Taiwanese people to acquire the same real estate rights locally, you usually have the opportunity to purchase corresponding real estate in Taiwan. Therefore, whether a foreigner can buy a house, the first step is not to check if you have an ARC, but whether your nationality complies with the reciprocity regulations. It is recommended that before viewing houses, you should check the list of reciprocal countries published by the Ministry of the Interior, or consult with a licensed real estate agent or the land administration office to confirm your eligibility, to avoid discovering that you cannot complete the registration after signing the contract. Second thing: Not all houses and land can be bought Even if you comply with the principle of reciprocity, not all real estate can be purchased. General residences, apartments, and flats are usually not a problem, but if it involves agricultural land, sloped land, industrial land, or land for other special purposes, there may be restrictions. Taiwan's laws also stipulate that certain types of land cannot be acquired by foreigners. Therefore, when viewing houses, don't just listen to the real estate agent's introduction. Before signing the contract, it is best to ask a licensed real estate agent to confirm the land type and whether it meets the registration qualifications, especially for properties that are particularly cheap, have large land areas, or are located in remote areas, you should pay more attention. Third thing: Being legally able to buy does not mean the bank will definitely provide a loan Many foreigners' final problem is not lacking the qualification to buy a house, but being unable to obtain a mortgage. Banks usually assess your residency status, duration of residence, job stability, whether you have income in Taiwan, credit history, down payment ratio, and other conditions before deciding whether to approve the loan, as well as the loan amount and interest rate. If you have long-term residence, a stable job, and a record of salary transfers, it is usually easier to apply for a loan; conversely, those without income in Taiwan, with less credit history, or with a shorter period of residence may need to prepare a larger down payment, or may not be able to obtain a mortgage. Therefore, before you start looking at houses, you might as well inquire with the bank about how much you can roughly borrow with your conditions, so as not to find out that the loan is insufficient after signing the contract. Having a residence permit makes the process smoother, but it is not a qualification for purchasing a house An ARC can make identity verification, bank review, and administrative procedures relatively convenient, but it is not a "house purchase permit." Whether a foreigner can buy a house still depends on whether their nationality complies with the principle of reciprocity and whether the real estate they wish to purchase complies with legal regulations. Even if qualified, it still needs to go through relevant reviews and bank loan assessments. Therefore, instead of rushing to pick a house, it is better to first confirm your eligibility to buy a house, whether the property you want to buy complies with regulations, and whether you have sufficient loan capacity. Buying a house is a significant expenditure. In addition to the housing price, you also need to consider loans, down payments, taxes, management fees, and future sale or rental issues. Spending a little more time beforehand to confirm qualifications and conditions is often more time-saving, money-saving, and reassuring than discovering problems after signing the contract.