Economy

Number of Older Mortgage Borrowers Hits Record High in Taiwan

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By TaiwanPlus

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Taiwan saw a record high of around 61,600 mortgage borrowers aged 65 and older last year, up 12% from a year earlier. Experts say older borrowers may be taking out loans to access cash or buy another home, while wealthier borrowers are also using loans for investment planning and wealth succession. The trend comes as Taiwan becomes a super-aged society, with people aged 65 and older making up more than 20% of the population.

Older Borrowers in Taiwan

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REPORTER:  
The number of older mortgage borrowers in Taiwan has hit a record high, exceeding 61,000 last year.

Borrowers aged 65 and up make up around 4% of Taiwan’s more than 1.5 million mortgage cases. That’s up 12% from a year earlier, according to the Joint Credit Information Center. Experts say older borrowers may take out loans to access cash or buy another home. Wealthier borrowers are also using loans for investment planning and passing on their assets. Taiwan became a super-aged society this year, with over 20% of the population 65 of older.

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Record Numbers in Older Mortgage Borrowers

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REPORTER:  
The number of older mortgage borrowers in Taiwan has hit a record high, exceeding 61,600 last year since 2009.

Borrowers aged 65 and older makes up around 4% of Taiwan’s more than 1.5 million mortgage cases, up 12% from a year ago, according to the Joint Credit Information Center.

Experts say older borrowers may take out loans to access cash or buy another home, though it’s unclear whether the trend is linked to reverse mortgages. Wealthier borrowers are also using loans for investment planning and passing on their assets. Taiwan has become a super-aged society this year.