Next govt urged to roll out urgent measures to boost market

Three real estate associations say they will ask the next government to implement three urgent measures and eight long-term proposals to revive the sluggish housing and condominium markets and put the sector on a more sustainable footing.

Prasert Taedullayasatit, president of the Thai Condominium Association, said his group, together with the Housing Business Association and the Thai Real Estate Association, would submit the so-called “8+3” package to the next government as soon as possible.

He said the proposals were designed to balance short-term economic stimulus with longer-term reforms aimed at strengthening the property market.

Three urgent measures after the February 8 election

Prasert said the three associations would propose the following urgent steps to the new government after the February 8 election:

• Extend the 100% loan-to-value (LTV) measure for one year. The policy allows condominium and home buyers to borrow up to 100% of the property value. The current measure is due to expire on June 30, 2026, and the associations want it extended to June 30, 2027.
• Expand reduced ownership transfer and mortgage registration fees to all price levels. At present, the fee reductions apply only to properties priced at 7 million baht or less.
• Ensure commercial banks cut lending rates to reflect the reduced policy rate.

He said the urgent measures would ease pressure on housing loan borrowers and help maintain stability in the housing market.

Eight long-term proposals to support sustainable growth

Beyond the short-term steps, Prasert said the government should pursue longer-term measures, including:

• Adjust long-term LTV rules to better reflect market conditions and the broader economy.
• Extend lease terms from 30 years to 60 years, while collecting taxes and fees from foreign nationals to create a fund to support low- and middle-income earners.
• Regulate foreign residential stays through condominium and housing estate laws to prevent foreign nationals from controlling juristic person management.
• Support mortgage insurance covering 10–20% for first homes to give banks greater security and reduce loan rejection rates.
• Price loan interest rates based on borrower risk—lower risk, lower interest; higher risk, higher interest.
• Introduce a debt-consolidation “Debt Warehouse” scheme using homes as collateral to tackle household debt and informal debt.
• Support large-scale property projects—such as healthcare centres, education hubs, theme parks, international convention centres and sports complexes—excluding casinos—to add value from public infrastructure.
• Impose a windfall tax on private-sector players that benefit from state megaproject corridors.

“Adopting the 8+3 model would help make Thailand’s property market more sustainable, reduce risks from borrower pressures, and serve as a key tool for driving the Thai economy in 2026,” he said.