Affordable housing
Affordable housing
by Bernard Lefebvre » Mon Aug 16, 2004 9:21 pm
Affordable Housing – Thailand
The Thai government has set a goal to have one million houses built for low-income people by 2007. The funds to build these houses would come from interest paid by homebuyers and soft loans from state run banks such as the Government Savings Bank and the Government Housing Bank. The government subsidy amounts to 80,000 baht per unit. It has asked the National Housing Authority of Thailand (NHA) to work out criteria for the construction of 600,000 housing units for which it would supervise construction, the other 400,000 units to be provided in the form of low interest mortgage loans for people who want to build houses on their land or buy from developers.
The program is targeting families with a monthly income of less than 15,000 Baht per month ($1. = 40 baht) with the banks offering mortgage loans for amounts of 350,000 to 400,000 Baht. NHA has worked out solutions to buy land plots from real estate developers or co-develop low-cost housing projects with them. For the first phase of the project, NHA has held online auctions to award construction contracts for the low cost housing program on a regular basis as part of an e-government project, which is aimed at increasing transparency and reducing expenses in government operations.
By October 2003, there were 267,000 applicants for housing under the program. The NHA via the Baan-Ur-Athorn project has already developed 32,000 units. For 2004, it targets to build 140,000 units in various projects. NHA’s projects can be seen at:
http://www.nhanet.or.th/mk/eproject/index.html
The Thai government has set a goal to have one million houses built for low-income people by 2007. The funds to build these houses would come from interest paid by homebuyers and soft loans from state run banks such as the Government Savings Bank and the Government Housing Bank. The government subsidy amounts to 80,000 baht per unit. It has asked the National Housing Authority of Thailand (NHA) to work out criteria for the construction of 600,000 housing units for which it would supervise construction, the other 400,000 units to be provided in the form of low interest mortgage loans for people who want to build houses on their land or buy from developers.
The program is targeting families with a monthly income of less than 15,000 Baht per month ($1. = 40 baht) with the banks offering mortgage loans for amounts of 350,000 to 400,000 Baht. NHA has worked out solutions to buy land plots from real estate developers or co-develop low-cost housing projects with them. For the first phase of the project, NHA has held online auctions to award construction contracts for the low cost housing program on a regular basis as part of an e-government project, which is aimed at increasing transparency and reducing expenses in government operations.
By October 2003, there were 267,000 applicants for housing under the program. The NHA via the Baan-Ur-Athorn project has already developed 32,000 units. For 2004, it targets to build 140,000 units in various projects. NHA’s projects can be seen at:
http://www.nhanet.or.th/mk/eproject/index.html
- Bernard Lefebvre
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- Joined: Thu Jun 03, 2004 12:20 am
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