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More housing projects to help low income earners launched

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More housing projects to help low income earners launched

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BANGKOK: -- The government is now rolling out more housing projects to help low income earners to own a house.

The latest launch of the scheme called “Ban Pracharat” (civil state) was initiated by the Finance Ministry’s Treasury Department.

Yesterday the Treasury Department revealed that it is set to turn the state property located in Saphan Kwai area in Bangkok into a 4-star condominium, which would be rented out to government employees.

According to director-general Chakrit Parapanthakul, the department will launch its first Ban Pracharat housing project by using the state properties in Wat Phaiton and Pradipat road near Saphan Kwai to construct condominiums which could hold up to 500 units each.

He said 250 million baht budget would be set aside for the construction of each 4-star condo.

Each room unit will be of the size of 23-24 square metres.

They will be rented out at a rate of 3,000 baht per month to state employees, with the aim to help alleviate the spending for low income governmental workers.

Meanwhile Housing Business Association president Athip Picchanond reported progress in the construction of another Ban Pracharat project on a private property saying that the private sector is waiting for a detail pricing of houses and condos.

Entrepreneurs have planned to propose to the government to increase the pricing of condos from 700,000 to 900,000 baht, while the price of townhouses should be increased to 1.5 million baht from the previous pricing of 900,000 baht, as private businesses have incurred more production costs due to the higher property prices, he said.

At the same time, the government is also planning to move up the rate of eligible income earners who would be able to reserve a house or condo from the prior salary range of 15,000-20,000 baht per month to 20,000-25,000 a month instead.

Source: http://englishnews.thaipbs.or.th/content/153593

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-- Thai PBS 2016-03-04

Govt employees are not really low income though are they? and they have pensions and free health care.

Bt3,000 a month in rental? What starts as 4-star would quickly become 2-star within 5 years, as no one seemed to have budgeted for maintenance cost and sinking fund...

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