The “Housing for Thais” project is among new economic measures touted by Prime Minister Paetongtarn Shinawatra in a televised address on the National Broadcasting Services of Thailand channel on Thursday (Dec 12) about the government’s performance in its first three months in office, reports the Bangkok Post.
She said the housing programme will provide high-quality affordable housing with 99-year leases, adding the government will also push for a B20 flat rate for all electric train lines serving Greater Bangkok.
Instalments will start at about B4,000 per month, offering many citizens access to homeownership, she said.
Former PM Thaksin Shinawatra and Ms Paetongtarn’s father also elaborated on the housing project during a seminar held by the ruling Pheu Thai Party in Prachuab Khiri Khan’s Hua Hin district on Friday.
He said the project is intended to fulfil the dreams of people who want to buy a house but cannot afford the soaring price or a large down payment.
He said there are several plots of unused state-owned land that should be used to build homes for Thais.
“No down payment will be required. Graduates who receive a monthly salary of B15,000 can pay 4,000 baht in monthly instalments and they will have B11,000 left. They can pay a B20 fee for an electric train line and still have enough money left,” he said.
“Their life will improve. When their salaries rise, they can think of buying cars. Their dreams will come true,” Thaksin said, adding the Government Housing Bank would arrange the financing for the project.
Thaksin said the construction cost of the project is not expensive so members of the private sector can invest.
Thaksin said that about 1 million units will be built under the project, but initially about 300,000 units are expected to be completed before the end of the government’s tenure.
“The houses will be fully-furnished and will also have an electronic bidet toilet. It is not a house for the poor. It is a house for people who are building a new life,” Thaksin said.
Transport Minister Suriya Jungrungreangkit told the seminar the housing project will be developed on the State Railway of Thailand (SRT)’s land.
Model houses will be unveiled at the Bang Sue Grand Station on Jan 20, he said.
Reservations will open the same month, he said, adding the instalment payment period will last up to 30 years, with 99-year leases. Transfers of house ownership will be allowed only after five years of living at the location, the minister said.
A source as the Transport Ministry said there are three potential locations for the housing development: the railway community in Bangkok’s Chatuchak district, areas near the Chiang Rak railway station in Pathum Thani, and areas near the Chiang Mai railway station.
An SRT source said a survey has found that about 38,000 rai of SRT land in Bangkok and its five surrounding provinces remains unused. Potential development areas must be located near SRT stations, community centres and in provinces that serve as regional economic centres, the source said.