‘Baan Chaothai’ opens registration, signalling strong home demand

Although Thailand’s economy remains volatile, the cost of living is high and household debt burdens are heavy, the “dream of owning a home” among Thais is still alive. Housing is one of life’s basic necessities, and the need rarely disappears — many people are simply waiting for the right opportunity and timing.

Data from the Real Estate Information Center (REIC) show that in the first nine months of 2025, residential property transfers fell both in volume (-9.3%) and value (-12.4%). But this is not a sign that Thais no longer want to own homes. Rather, it reflects that many are not yet ready to buy: while transfers have shrunk, interest on the demand side has moved in the opposite direction.

DDproperty data indicate that demand to buy homes in Bangkok rose by 26% year on year, reflecting a “watching from the sidelines” behaviour. Many are still searching, comparing and waiting for the day when cash on hand, interest rates and government measures align. More than 76% of survey respondents still expressed confidence in the property market, supported by developer promotions and expectations of a downward interest-rate trend — making 2026 a window of opportunity.

A price point Thais can afford: under Bt5 million

A closer look at purchasing power shows that 82% of demand sits in the segment priced at no more than Bt5 million. The strongest segment is Bt1–3 million, accounting for 44%. While 36% say they already have enough savings to buy, and another 38% are close to their target, the key bottleneck is not price — it is mortgage approval.

Bank data suggest the home-loan rejection rate remains close to 40%. The debt service ratio (DSR) — the debt-to-income burden — has become an invisible wall, but one that is among the highest hurdles in working people’s financial lives.

The result is the growth of the “Generation Rent”: 23% rent because homes are too expensive, 20% because they do not yet have savings. Notably, 57% intend to rent for no more than two years before returning to buy. Renting is not surrender — it is a way to “pause purchasing power” while the economy is still unfavourable.

‘Baan Chaothai’: a project designed to answer the pain points

In a market full of friction, the opening of registration for the “Baan Chaothai” housing project is drawing attention. In a volatile economy, it may not be the complete answer — but it highlights a key question: if we can unlock “how to buy”, the homeownership dream for Thais may not be as far away as it seems.

The concept was developed by BTS Group to reduce obstacles to homeownership: buyers do not need to pay a down payment during construction, instalments begin only when ownership is actually transferred, and units are delivered ready to move in — complete with furniture and electrical appliances.

In other words, it reduces the upfront lump-sum burden. The project is therefore trying to address the biggest problem in today’s market: not demand, but access to credit. It has the Government Housing Bank (GH Bank) as a partner to help tackle the key pain point.

Consumers clearly want easier access to loans, lower interest rates, lower taxes and fees, and longer repayment terms. Sometimes even a small drop in interest rates can turn a renter into a homeowner.

Project overview

“Baan Chaothai” is an idea backed by Keeree Kanjanapas, chairman of BTS Group, aimed at improving Thais’ quality of life through quality housing in good locations at affordable prices. It seeks to reduce constraints in the home-buying process and facilitate access to finance, making it easier for people to own homes.

The project is a collaboration between BTS Group and GH Bank, which has a mission to support homeownership for all by creating more “opportunities” for Thais to own homes more easily.

The main objective is to enable buyers to access homes at attainable prices without paying a down payment during construction, and to start instalments only when the title is transferred, with units provided ready to move in — reducing additional expenses for buyers.

Locations and pilot projects now open for registration

Baan Chaothai is currently open for expressions of interest for two pilot projects:

D:CODE (Srinakarin Road), near the Yellow Line’s Si Iam station.

• Project area: 42 rai
• Up to 24 residential buildings
• Low-rise condos, 8 storeys
• Total: 4,150 units

Starting prices:

• 30 sq m: Bt1.89m
• 45 sq m: Bt2.85m
• 60 sq m: Bt3.78m

Construction expected to start September 2026, completion December 2028

D:CRAFT (Khlong Luang, Pathum Thani), Thepkunjon 2 Road–Khlong Nueng canal road, near Talad Thai and Thammasat University (Rangsit).

Project area: 115 rai

• Up to 60 residential buildings
• Low-rise condos, 8 storeys
• Total: 7,500 units (sold in phases)

Starting prices:

• 30 sq m: Bt1.6m
• 45 sq m: Bt2.4m
• 60 sq m: Bt3.2m

Target buyers: workers in the Rangsit area and the metropolitan fringe

Construction expected to start September 2026, completion December 2028

Key selling point: ‘no down payment — pay when you transfer’

Registrants are not required to pay a down payment to the project during construction (subject to the bank’s conditions). Buyers begin paying only when ownership is transferred, through direct financing with the bank. This significantly reduces the initial lump-sum burden.

Units come in multiple sizes and include basic interior fit-outs such as furniture and electrical appliances, allowing buyers to move in without having to spend extra from their personal budget. Details may vary by unit and by project.

D:CODE: Yellow Line connectivity

In particular, D:CODE is close to the Yellow Line, helping reduce travel costs and making it easier to connect into the city — a major point of differentiation from typical condominium projects.

Those interested can register via the project website: http://www.baan-chaothai.com.

Registrants fill in personal details so GH Bank can conduct an initial credit assessment. Each registrant can select one project for one unit. The system will notify status via SMS or on the website and arrange appointments to view show units at a later stage.