New affordable flats to be sold under instalment plan
Thailand's most updated English news website, newspaper english, breaking news : The Nation
Residential flats of the Ayawon and Yadana housing projects will be sold under an instalment plan through the Construction and Housing Development Bank (CHDB), according to the bank.
"We have to negotiate how much money to lend and how to lend it because there is a small-price gap between the cost of these apartments and that of others currently available in the market," said an official from the CHDB.
The 18-storey affordable housing project, which is being implemented on 220 acres of land in Dagon MyothitSeikkan Township, includes 20 apartment buildings in the first phase, 13 in the second phase and 16 in the third phase. The project will house about 100,000 people.
The first phase of the project comprises 7,200 flats and will be sold according to an instalment plan in October, according to KyawSoe, the Yangon Region Minister for Construction, Forestry and Energy.
Buyers will have to put down a 30 per cent down payment and pay off the rest within four years.
Some buildings of Ayawon and Yadana housing projects will be completed by September, according to the Department of Human Settlement and Housing Development.
These low-cost and affordable housing projects are being constructed in Hlaingthaya, Dagon MyothitSeikkan and north Dagon Myothit townships.
