Mr. Arkhom Termpittayapaisith, Minister of Finance, gave a special speech at the seminar “PROPERTY FOCUS 2022: MEGA TREND Real Estate Receives NEW NORM” that the real estate business direction in 65 should begin to recover. and continued to expand from the demand for new housing that is still in good shape no oversupply This is a reflection of the overall economic signal of the country that has recovered better.
For the direction of the real estate market after this view that it continues to expand This is reflected in housing loans that are believed to be able to grow for sure. The growth of the real estate sector will be under 3 important issues: 1. Digital technology Conveniences that must be present in the entire home Infrastructure development in the home is an important issue for entrepreneurs in the real estate sector from now on. 2. Green matters. Residential designs must focus on saving energy. This will help residents to save costs as well. And 3. Design of housing for the elderly. in line with the trend of Thai population entering the aging society
While the trend of lending in the real estate sector in the past, the Ministry of Finance has discussed with the Government Housing Bank (GHB) and has allowed to hold interest rates for home loans first. to help low-income people who want to have their own home
“A key factor for consumer housing purchase decisions. Part of it is the interest rate. Please be relieved that we have already discussed with the GH Bank as a state mechanism. Therefore, please keep the interest rate in this section first. The interest rate will be fixed until the end of 65 because if the real estate sector expands well. It will have a positive effect on the economy. Because the real estate sector is very large. Real estate alone accounted for 4.8% of GDP, but when combined with supply chain businesses such as the construction industry, it accounted for 7.2 percent of GDP. will account for more than 10% of GDP, so the real estate sector is one of the key indicators to determine whether the Thai economy will recover or not,” said Arkhom.
Mr. Chatchai Sirilai, managing director of GH Bank, said that GH Bank’s overall lending in the first quarter of 2016 was 61.9 billion baht, an increase of 32.34 percent from the same period last year. The Ministry of Agriculture and Agricultural Cooperatives has a target of lending at 222 billion baht, but from the economic direction and the real estate sector that has begun to show signs of continuous recovery while the government has measures to support and stimulate the real estate sector interest rate fixation It will be an important factor that helps the Bank of Thailand’s lending growth this year to be higher than the target of at least 240 billion baht or a maximum of 270 billion baht.
“Although interest rates in the world market have begun to show signs of increasing continually, while the government and the Bank of Thailand (BOT) have signaled that interest rates will be held for as long as possible. Because of domestic factors, the Bank of Thailand insists on freeze interest rates as long as possible. because domestic factors are not yet in the appropriate range to raise interest rates Many parties estimate that Thai interest rates will increase in the second half of this year. in which the Bank of Thailand’s part to help support the real estate sector insists on keeping interest rates as long as possible,” said Mr. Chatchai.
