Bangkok – The government has issued measures to help low-income earners become homeowners via its first home project, however, poor awareness of the project has prompted a survey into market demand.
Thitiwat Teerakulthanyaroj, Managing Director for Century21 (Thailand) Co., Ltd., reported the results of the poll on housing demand among low-income earners. The survey had 1,091 respondents with monthly income ranging between 600 – 15,834 baht.
60% of respondents expressed an interest in the first home project, of whom 75% expressed a desire for privately developed housing. Respondents also preferred locations near railways or industrial estates where they work.
The remaining 40% indicated low awareness of the government scheme and therefore did not express a desire for housing through the project.
According to the poll, the average respondent can afford to pay down a 250,000 baht loan with 3% annual interest for 40 years, or 3,800 baht per month. Additional stipulations included no transaction or related fees and for each unit to come partially furnished.
