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Bangkok’s real estate market has been buzzing with excitement following the launch of the Thai government’s ambitious “Home for Thais” program, aimed at making homeownership more accessible for low-income citizens and fresh graduates. The program has sparked unprecedented interest, with over 12 million people attempting to register online within hours of its opening. The overwhelming demand even caused the official website to crash shortly after registration began.

 

 

Affordable Housing with Monthly Payments as Low as ฿4,000

The program, inaugurated by Prime Minister Paetongtarn Shinawatra at an exhibition in Krung Thep Aphiwat Central Terminal, offers affordable condominiums and houses at payments starting from just ฿4,000 per month. For many, this initiative represents a long-awaited opportunity to secure a home, especially given that nearly 6 million households—approximately 27% of Thailand’s population—currently lack proper housing.

The exhibition, running until January 31, showcases model homes, drawing crowds as early as 5 a.m. Attendees eager to register expressed optimism about the initiative, which allows buyers to purchase homes on state land with leaseholds lasting up to 99 years.

 

 

Where Are These Affordable Homes Located?

Four key locations have been identified for the pilot phase, all conveniently located near mass transit systems:

  • Bang Sue Km 11: Featuring 1,232 condominium units priced from ฿1.76 million for 30 sqm to ฿3 million for 50 sqm.
  • Thon Buri: Offering 2,100 condominium units.
  • Chiang Rak: Planned to deliver 1,795 units.
  • Chiang Mai: Focused on single houses with 720 units available.

The State Railway of Thailand has earmarked over 38,000 rai of unused land nationwide for the program, with initial plots for these developments expected to be handed over by the end of the year.

 

 

Who Can Apply?

The program comes with specific eligibility requirements:

  • Applicants must be Thai nationals of legal age.
  • They must have never owned a residence before.
  • Monthly income must not exceed ฿50,000.
  • Applicants must not be blacklisted by the National Credit Bureau.

The absence of a down payment requirement makes this program even more appealing, removing one of the biggest barriers to homeownership.

 

 

Transforming Housing in Thailand

Speaking at the launch, Prime Minister Paetongtarn emphasised that the initiative is part of the government’s broader strategy to improve the quality of life for Thai families by addressing the housing gap. The collaboration between the Ministries of Transport and Finance has been instrumental in bringing this vision to life.

 

For those interested in condominiums in Bangkok, the “Home for Thais” program is a game-changer. Not only does it provide an affordable way to step into the property market, but it also ensures the convenience of living near transit hubs—a significant advantage in the bustling capital city.

 

If you’re keen to learn more or explore your eligibility, visiting the exhibition or keeping an eye on further developments could be your first step toward owning a dream home in Bangkok.

 

 

Source: Bangkok Post

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