The Minister of Finance ordered the Bank of Thailand to freeze the house interest until the end of the year ’65. Support low-income people with housing after commercial banks tighten lending causing customers to turn to the Bank of Thailand more
March 31, 2022 Mr. Arkhom Termpittayapaisith The Minister of Finance said that from the policy interest rate hike signal. especially the United States The central bank has raised the policy interest rate by 0.25%, keeping the policy interest rate at 0.5% and there is still a tendency to increase is to curb that high inflation. As for Thailand itself, the Monetary Policy Committee (MPC) recently kept the policy rate at 0.5% to facilitate economic recovery.
In the past, it was found that The Bank of Thailand’s new lending has increased quite well. due to the direction of interest to increase Including commercial banks are strict in lending. causing middle-income customers to turn to more loans from BAFS
Ready to emphasize that from the mission of the GH Bank that wants low-income people to have their own homes Therefore, the policy has been given to GH Bank. Hold interest rates as long as possible or at least by the year 65
However, in the past state measures has issued measures to help people affected by the epidemic of the Covid-19 virus through debt restructuring measures, debt moratorium, while entrepreneurs have measures of the Bank of Thailand in the debt moratorium program
For entrepreneurs in the tourism sector, the 100 billion baht credit line, which now has 11 financial institutions applying for loans, has a total of 253 debtors, totaling more than 34 billion baht.
In addition, the government has renewed measures to reduce transfer and mortgage fees. For houses priced up to 3 million baht, down to 0.01%, including the expansion of the Million House Project Phase 2, which now has a large number of registered participants. But the actual amount of legal acts is not yet full because it may wait to assess the situation first
while the land and building tax The reason why the government did not renew the measure Due to the 90% reduction in taxes in the past, the impact on local income is about 35 billion baht, which affects the budget used for local development, including roads, wastewater and the environment.
So when the economy improves The real estate sector is investing more. Especially in Bangkok, Samut Prakan and Chonburi areas, there is a need for local administration and development. Therefore, the government did not renew the measure.
Will the economy recover or not? The real estate sector will lead which the value of the Thai real estate industry accounted for 4.8% of GDP, but if including supplies in the building materials sector will account for 7.2% of GDP and if including the furniture or home furnishings will account for nearly 10% of GDP.
“Now we are starting to see more and more clear signs from the number of land allocation and construction permits that will start to increase in 65 as demand for housing is increasing. found that the demand is close to the supply Therefore, the oversupply condition of the real estate sector has not yet been seen. We also have a view on the Thai real estate sector in 2022, which continues into the year ’66, that new loans will definitely grow.”
