The government is set to roll out the second phase of the One Million Houses low-cost housing scheme worth 30-50 billion baht with a fixed rate of 2% for 10 years to help low-income earners buy a home and stimulate the domestic property sector.
Chatchai Sirilai, president of state-owned GH Bank, said the second phase is scheduled to be proposed to the bank’s board of directors for approval sometime in April.
This phase offers a lower interest rate than the first phase and raises the prices of the housing units to a ceiling of 1.2 million baht, up from 1 million in the first phase.
The first phase carries an average interest rate of 3% a year for the first 3-5 years and has already approved 35 billion baht worth of mortgages for applicants.
Some 15…
