BANGKOK, 24 May 2019 (NNT) – The government has a policy to improve the people’s quality of life by providing affordable housing to low- and middle-income earners.
Recently, the Government Housing Bank (GH Bank) has launched the one-million-unit low-cost housing project, which provides an opportunity for the general public to buy houses priced below one million baht.
After receiving a positive response from the people, GH Bank has extended the project to next year and the second phase will begin in September.
The GH Bank President, Chatchai Sirilai, said the bank had approved loans worth 4.3 billion baht to more than 6,300 people under the one-million-unit low-cost housing project. The bank is expected to approve 10 billion baht worth of loans this year.
After the cabinet approved the project’s extension from December 2019 to December 2020, the state-owned GH Bank has invited real estate companies that plan to build houses priced below one million baht to join the project.
The bank will also introduce a new soft loan scheme aimed at low-income earners, working-age people, and those who have to financially support their parents. The maximum housing loan term is 50 years to ease their financial burden. The scheme is expected to be open this September.
Meanwhile, GH Bank will launch its first savings lotteries worth 27 billion baht in August, with a price of one million baht per ticket. The second savings lotteries worth 30 million baht will be launched by the end of this year, with a price of 10 million baht per ticket. GH Bank’s third and final savings lotteries valued at 50 billion baht will be launched next year at a price of 500 baht per ticket.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.(more…)
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.(more…)
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...
Bangkok lifts more COVID-19 restrictions
In response to the Royal Thai Government’s announcement to relax more COVID-19 controls in the dark-red zone provinces, which include...
Thailand lifts curfew in ‘Blue Zone’ destinations from 31 October 2021
Bangkok, 22 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that the night-time...