Sunday, September 20, 2020

Govt launches affordable housing for civil servants

Aug 04. 2020
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The Department of Treasury has been tasked by the Ministry of Finance with developing 40,000 units of low-priced housing on state lands under its administration for civil servants nationwide, Deputy Finance Minister Santi Phromphat said on Monday.

“There are many state lands left unused in the country that should be developed into residential projects at affordable prices for civil servants,” he said. “These projects will be jointly managed by Department of Treasury and Office of the Civil Service Commission, while the Government Housing Bank will provide low-interest loans at 3 per cent per year for as long as 30 years.”

“The repayment rate should be in the range of Bt2,000-Bt3,000 per month, while the ownership can be transferred among fellow-civil servants,” he added.

The projects are expected to open for reservation within this month at 800-1,000 units in Bangkok and selected provinces in the first phase. The second phase will be open in more provinces, offering around 5,000-10,000 units. After that, the Department of Treasury will explore its lands for potential areas until the target of 40,000 units is achieved.

“Apart from residential projects, the department will also study the possibility of using its lands for tourism and commercial purposes, such as the 500-rai land in Nakhon Sawan province which can be developed into an aquatic tourist attraction, or the 50-rai land in Samut Prakarn province that can be developed into a distribution centre for agricultural products in cooperation with the Marketing Organisation for Farmers,” added Santi.

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