Registration opens next month
PUBLISHED: 15 Dec 2024 at 09:14
The government is set to launch a new housing initiative in January, anticipating the registration of 1 million fully-furnished affordable housing units. This ambitious “Housing for Thais” project aims to provide a significant boost to homeownership among citizens.
Prime Minister Paetongtarn Shinawatra highlighted the program in a recent address, emphasizing its role as a key component of the government’s economic strategy during its initial months in office. She assured that high-quality housing options will be available, along with a low-cost electric train service throughout Greater Bangkok.
Monthly installments for prospective homeowners are projected to start at about 4,000 baht, making it feasible for numerous citizens to achieve homeownership.
Former Prime Minister Thaksin Shinawatra discussed the project’s objectives, stating it aims to assist those who struggle with the rising costs of housing and large down payments. He revealed plans to utilize state-owned land for this initiative.
Thaksin further explained that no initial down payment will be required, allowing graduates earning 15,000 baht monthly to afford the 4,000 baht payments while comfortably managing their living expenses.
The initiative anticipates the construction of approximately 1 million homes, with an initial focus on completing around 300,000 units by the end of the current administration. Each house is designed to be fully furnished, exceeding the standard expectations for affordable housing.
Transport Minister Suriya Jungrungreangkit revealed that development will occur on land owned by the State Railway of Thailand (SRT), with model homes slated for unveiling at the Bang Sue Grand Station on January 20. Registration for long-term leases (99 years) will commence in January, with installment payment plans extending up to 30 years.
Potential housing locations are being assessed, including railway communities in Chatuchak district, near the Chiang Rak and Chiang Mai railway stations. Current evaluations indicate that approximately 38,000 rai of SRT land is available for development across Bangkok and its vicinity.
