Govt aid for home buyers earns broad support
Thailand’s three major housing associations are ready to support the government’s latest measure to bolster home purchases, Finance Ministry spokesman Lavaron Sangsnit said on Thursday (November 28).
Ministry officials met representatives of the Housing Business Association, Thai Real Estate Organisation and Thai Condominium Association and 19 financial institutions earlier in the day to brief them on the “Good house with down payment” campaign.
It is one of the government’s latest economic stimulus measures unveiled on Tuesday.
To reduce the cost of buying a home, the government will offer Bt50,000 cash-back per buyer on the down payment.
Buyers must earn no more than Bt100,000 a month and be registered on the Revenue Department’s tax database.
The campaign began on Wednesday and continues through next March.
Several banks have introduced their own down-payment measures to support the campaign.
Krungthai Bank president Payong Srivanich said it fully supported the ministry’s approach.
Speaking at a separate event, Finance Minister Uttama Savanayana likened the Thai economy to a sick person needing a remedy to prevent the condition getting worse.
The government must thus keep introducing economic stimuli, he said, but it must do so cautiously.