Over 270,000 Sign Up for ‘Homes for Thais’ Initiative
PUBLISHED: February 9, 2025, 06:15 AM
Approximately 270,000 individuals have registered for the government’s ‘Homes for Thais’ initiative since its launch on January 17, according to the latest report from the Transport Ministry.
Out of the applicants, over 140,000 have successfully passed the initial screening process for loans through the Government Housing Bank, as stated by Deputy Transport Minister Surapong Piyachote.
This initiative aims to provide affordable housing for low-income citizens and recent graduates, and it has generated considerable interest in a short period.
From January 17 to February 4, the project’s website experienced an impressive 75 million visits, leading to 270,000 registrations.
The highest number of registrations has been recorded for locations along Vibhavadi Road in Bangkok, with additional interest in Thon Buri, the Muang district in Pathum Thani, and the Muang district in Chiang Mai. These developments will take place on underutilized land owned by the State Railway of Thailand (SRT), which plans to transfer these areas for construction by the end of the year.
Given the high registration numbers, the Government Lottery Office will oversee the lottery process for the first phase to ensure transparency and fairness.
In the initial four pilot regions, nearly 5,000 housing units will be available. Applicants who do not succeed in the first phase will retain the opportunity to enter subsequent lottery rounds.
Furthermore, Phase 2 is set to introduce approximately 10,000 additional units, followed by Phases 3 and 4.
The goal is to reach a total of 100,000 housing units by 2025, with occupancy transfers beginning in 2026.
The next development phases will concentrate on urban areas with high population densities.
Ultimately, this project aims to provide affordable housing that facilitates convenient commuting options. For instance, two designated areas in Kanchanaburi, near the Kanchanaburi Railway Station and the Saphan Khwai Yai bus stop, are slated for the construction of condominiums, single-family homes, twin houses, and commercial spaces, with 1,500 of the 4,000 planned units expected to be completed by 2026.
To support this ambitious project, SRT Asset Company Limited plans to increase its capital registration from 200 million baht to 1 billion baht, which is seen as a low-risk investment aimed at generating stable revenue from tenants.
