The Thai government is preparing to roll out 55 billion baht (approximately US$1.66 billion) in soft loans to stimulate the property sector and boost the national economy, according to Deputy Finance Minister Paopoom Rojanasakul.

This proposal will be presented to the cabinet for approval, Rojanasakul stated in a press briefing.

He added that the stimulus package would target both supply and demand within the real estate market, aiming to encourage both property developers and buyers, ensuring a wide-reaching impact.

The Deputy Minister emphasized that fresh stimulus measures are necessary as the current schemes have been fully utilised.

Recently, the Finance Ministry leveraged state financial institutions, including the Government Housing Bank (GH Bank), to support the real estate market. Earlier this year, GH Bank launched a low-interest loan program called “Happy Home,” offering a total of 20 billion baht in loans. This initiative provided flexible loan terms for low-income households, allowing for a maximum loan of 3 million baht per applicant, with a fixed interest rate of 3% for the first five years. However, this program has now reached its funding limit.

Source: Bangkok Post

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