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Taiwan holds high outstanding mortgage debts: World Bank

November 23, 2011

The World Bank said in its recent semi-annual East Asia and Pacific Economic update that Taiwan held high outstanding mortgage debts compared with other countries in the region.
The report highlighted countries with high outstanding mortgage debts. Singapore’s home loans accounted for 52 percent of its total outstanding loans in 2010. Taiwan trailed behind in second place, with home loans accounting for 42 percent of its total outstanding loans.
In terms of household mortgage debt to a country’s gross domestic product ratio, Hong Kong ranked first in 2008 with its household mortgage debt accounting for 41 percent of its GDP, followed by Taiwan, with household mortgage debt accounting for 40 percent of its GDP.
Taiwan’s overall household debt to GDP ratio also ranked high in 2009. Malaysia, with a household debt accounting for 79 percent of its GDP, ranked in first place, followed by South Korea (63 percent) and Taiwan (58 percent).
The twice-yearly report reviews the region’s economic development from 2007-2011. It also provides a forecast for 2012.

By Chou Yung-chieh and Ann Chen CNA Nov. 22 2011

 

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