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National Housing Policies and Programs Thailand

National Housing Policies and Programs Thailand . National Housing Policies and Programs Ballobh Kritayanavaj, Senior Vice President Government Housing Bank Thailand April 19, 2010. Demographics – Thailand Population – 65 million Population growth – less than 0.5 per cent

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National Housing Policies and Programs Thailand

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  1. National Housing Policies and Programs Thailand

  2. National Housing Policies and Programs Ballobh Kritayanavaj, Senior Vice President Government Housing Bank Thailand April 19, 2010

  3. Demographics – Thailand • Population – 65 million • Population growth – less than 0.5 per cent • per year • Migration increasing urban housing needs • 36 per cent – urban population • GDP per capita - $US4,072

  4. National Housing Policies • NESDB : National Housing Policy Subcommittee • 1982-1997 • GH Bank + NHA + NESDB + Private sector • Annual National Housing Report • No comprehensive national housing policy • 3 main government units implement government middle and • low-income housing programs • Government Housing Bank (GH Bank), National Housing • Authority (NHA) and Community Development • Organization Institute (CODI) • Private sector provides housing from low-income to • multi-million baht homes

  5. New Housing Policies Cabinet approved National Housing Policy Committee – May 28, 2008 Major responsibility of NHPC – oversee formulation of comprehensive long-term national housing policy NHA and CODI play major role in housing provision for lower income groups Private housing developers play a leading role in housing development for low - middle – high income group

  6. Specialized Financial Institution (SFI) – Ministry of Finance Major emphasis – lower and middle income mortgages Total Assets Bt692 billion ($US21 billion) (2009) Branches : 76 + 71 points of services Employees : 2,321 36.3 per cent of all outstanding home loans (2009) About GH Bank

  7. National Housing Authority (NHA) • Assuring shelter for all residents in Thailand • Operates as state enterprise • Rental apartments, condominium, government employee housing • Currently, primarily acts as an enabler between government and private sector

  8. NHA – Baan Eur-Arthorn Project • Project to build 600,000 homes - 2005 • Scaled down – currently 200,000 under • construction • Government subsidies granted to private sector • developers • Houses sold at affordable prices • GH Bank and Government Savings Bank - buyer • financing

  9. Special Program : GHB’s Mortgage Interest Rates

  10. Deposit Rates Commercial Banks VS GH Bank Sources : GH Bank and Bank of Thailand (BOT)as of 10 Feb 2010

  11. Net Interest Margin : Commercial Banks VS GHB

  12. Community Organization Development Institute (CODI) • Finance slum-area communities • Develops community-based savings programs and • organization through co-operatives • Funded from Government budget • Baan Mankong program – very successful • Since 2003, CODI has funded more than 77,000 • households in more than 245 districts throughout Thailand

  13. Private-sector developers and mortgage lenders • Well developed private-sector housing industry • Provide most homes from low-income sector • to multi-million dollar homes • Commercial banks financing readily available • – 55 per cent market share • GH bank market share of home loans • – 36 per cent

  14. BOI Promotional Housing Investment Policy - Thailand • Income tax exemption for developers (5-8 years) • Key investment promotion conditions • Housing project – minimum 50 units • Condominium unit – not less than 28 sq. meters • and sales price – not exceeding 1 million baht • Townhouse or detached house plot – not less than 70 sq. meters and sales price – not exceeding 1.2 million baht

  15. Housing Completion in Bangkok and Metropolitan Region

  16. Newly - launched Housing Units - Bangkok and Vicinity

  17. New Home Loans in Thailand

  18. Market Share of New Home Loans

  19. Home Loans Outstanding in Thailand

  20. Market Share of Home Loans Outstanding

  21. Keys to future growth – policy issues • Reducing housing costs (Construction Technology) • Government incentive programs for the LIG (BOI) • Further developing housing financing markets • Developing resale housing markets (professional brokers + licensing law) • Strengthening professional housing associations • Statistical data and Information for a well- functioning housing market (REIC+ GH Bank journal) • Housing and housing finance education for the public • (Homeownership counseling services)

  22. T h a n k y o u www.ghb.co.th

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