BANGKOK: Thais earning less than 50,000 baht (US$1442) per month are being handed the chance to own an affordable condo or house in the city under the government’s “Baan Pheu Khon Thai” (Homes for Thais) project, with registration open from January 20.
The project will provide fully furnished units near urban centres, using land owned by the State Railway of Thailand (SRT), Transport Minister Suriya Juangroongruangkit said on Wednesday (Jan 9). Mortgage payments will start at about 4,000 baht (US$115) per month.
Four pilot locations have been chosen for the project: Bangkok’s Chatuchak district, Pathum Thani’s Chiang Rak area, around Thonburi Railway Station in Bangkok, and in Chiang Mai’s Muang district.
Initial designs include single-storey houses with 50 square metres of floor space, two bedrooms, one bathroom, a living room, a washing area and parking space for up to two cars.
Condominium options will include one-bedroom units at 30 sqm and two-bedroom units at 51 sqm.
Models and specifications of the project houses and condos will be displayed at Krung Thep Apiwat Central Station in Bangkok. PM Paetongtarn Shinawatra will visit the display to check on the project’s readiness on January 17.
To be eligible, applicants must be Thai nationals who earn less than 50,000 baht (US$1442) per month and have never owned a residential property.
Applicants will then be entered into the Government Housing Bank’s lottery. Winners who do not take up their right to buy by the deadline will be excluded.
Homes for Thais are limited to one unit per person per project. The property cannot be sold or transferred for five years after the ownership registration date. Renting the property or using it for purposes other than residential is also prohibited. – The Nation/ANN
