The Thailand Government’s housing loan policy will directly benefit low- to medium-income earners and stimulate the real estate market, according to a spokesman.
Sansern Kaewkamnerd explained the government’s housing loan policy will function to stimulate the real estate sector’s business, and to help lighten the burden of low- and moderate-income earners.
With increased purchasing power, the low- to moderate-income earners are more likely to spend, and in turn, boost money circulation in the economic system.
The government also set a requirement that house buyers earning less than THB 30,000 are able to apply for loans if the house price is less than THB 3 million.
This regulation will allow the low and moderate income earners to buy a house.
If houses prices are too high, the group that will benefit the most will not be the target group diminishing the policy’s intended goal, the spokesman added.