Thailand’s new housing project targets lower income families
Lower-income Thai citizens will soon have access to an affordable housing project through the Homes for Thais initiative, which offers accommodation on state-owned land without requiring down payments. The programme instead implements a monthly rental system.
The Transport Ministry will present the project details to Cabinet today, January 13. Prime Minister Paetongtarn Shinawatra will launch the initiative on Friday, January 17 at Krung Thep Aphiwat Central Terminal, where she will inspect model homes.
The initial phase utilises State Railway of Thailand’s land across four locations: the Bang Sue area near PTT headquarters at KM 11 Industrial Estate; Thonburi Station area near Siriraj Piyamaharajkarun Hospital; Chiang Rak area near Thammasat University Rangsit Campus; and the area surrounding Chiang Mai Railway Station.
Development plans include eight-storey condominiums with units between 30 to 51 square metres. Future phases will feature 45-storey buildings to reduce costs. The project will also offer single-storey detached houses of 50 square metres on 50-square-wa plots, totalling 5,000 units. The Transport Ministry revealed that registration for the scheme can be completed online.
“Citizens interested in participating can register [online]. The Government Housing Bank will provide services and project information at Krung Thep Aphiwat Central Terminal.”
The Government Housing Bank plans to offer housing loans with flexible terms and low interest rates for qualified applicants. Loan details await official policy announcement. Bank representatives will staff an information booth at the launch event.
A Government House source revealed the project draws inspiration from similar housing schemes in countries like Spain. Location selection prioritises areas near railway stations and provincial economic hubs with existing infrastructure and proximity to universities.
The income threshold for eligibility, initially capped at 30,000 baht monthly, has been increased to 50,000 baht. Government working groups are reviewing this limit to ensure the programme reaches its intended demographic.
The source noted that lessons from the previous Baan Eua-Arthorn project influenced the current initiative’s planning. The earlier scheme built 200,000 units but sold only half, resulting in significant losses.
The new programme targets 50,000 units by 2030, reflecting current market conditions, reported The Nation.
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