Cabinet OKs housing projects for low-income earners in 8 provinces

The Cabinet on Wednesday (Jan 3) approved housing projects for low-income earners in eight provinces so they will be able to have their own homes at a cost of 2,000 baht instalment payment per month.

A total of 4 billion baht budget will be made available to implement the so-called Ban Khon Thai Pracharath housing project’s second phase in Chon Buri, Prachuab Khiri Khan, Udon Thani, Nakhon Phanom, Khon Kaen, Lampang, Chiang Rai and Chiang Mai.

Eight land plots, totaling 317.2 rai will be secure to build altogether 2,757 housing units of an average of 28 square metres per unit.  The housing units to be built include twin houses, row houses and suites, each costing between 350,000-700,000 baht per unit.

Low-income earners who have registered to receive state welfare will be given the top priority to buy the housing units in hire purchase with low-interest loans to be provided by financial institutions.

Second priority will be given to those who earn an average of not exceeding 35,000 baht a month followed by the others.  However, this group of buyers will not be given special privilege from commercial banks.

Real estate developers who participate in this Ban Khon Thai Pracharath housing project will be given loans from Government Savings Bank and the Government Housing Bank.  Those who offer the best deals will  be awarded the contracts to build the housing projects. The project developers are required to spare about 30 percent of the land plots as a common space in the housing estates.