TAIPEI (Taiwan News) — For the first time, rental subsidy applications nationwide have surpassed 1 million households, setting a single-year record since the program began in 2007.

The National Land Management Agency said this year’s NT$30 billion (about US$940 million) central government rental subsidy program opened on Jan. 1, per Liberty Times. Initially planned to assist 500,000 households, it had received more than 1.02 million applications by the end of October, with over 870,000 approved, also a single-year high.

Colliers International Taiwan Director Huang Shu-wei (黃舒衛) said rental subsidies are a government strategy to support households without home ownership amid high property prices. The policy targets single young adults, newlyweds, families with minor children, and economically or socially disadvantaged households.

Its main goal is to help young workers secure stable housing, promoting social stability and increasing population mobility. Nationwide, there are about 9.4 million registered properties and 9.71 million households.

According to Ministry of the Interior statistics, an average of 87,000 households are approved per month. Including November and December, total approvals this year are expected to surpass 1 million, benefiting more than 10% of all households.

Housing researcher Ho Shih-chang (何世昌) said that social housing combined with rental subsidies helps ease citizens’ housing burdens. However, considering that roughly four in 10 tenants are ineligible for subsidies, the total number of rental households nationwide is estimated at 1.4 million, well above the original projection of 1 million.