Arkhom Termpittayapaisith, Minister of Finance, revealed that he is preparing to meet with the Bank of Thailand (BOT) to consider expanding real estate stimulus measures that will expire in the year 65. Initially, there is an idea to extend it for another year.
Measures in this group include:
- Measures to reduce transfer and mortgage fees to 0.01%
- Mortgage control measure (LTV) that requires the ceiling of the loan to value ratio (LTV ratio) to 100% (can borrow at full collateral) for home loans until December 31, 65
- Accelerate the project of a million houses by wanting the private sector to participate more in the project during the period of interest rates entering an uptrend by this project The Cabinet has extended loans from 1.2 million baht to 1.5 million baht, with a low interest rate of 1.99%, a term of 4 years, which will take care of low- and middle-income earners.
Mr Arkhom said that the real estate sector is another important engine to stimulate the economy. After the Covid-19 situation has resolved, the country has been opened for more foreigners to travel to Thailand. It is expected that this year there will be 9-10 million people, believing that it will benefit the economic sector. and the real estate sector to recover better in the year 65, continuing until the year 66 at the same time, the export sector that continues to grow It will be an additional factor that will help stimulate the economy this year.
However, in the event that interest rates are about to enter an uptrend, State financial institutions, which are considered government mechanisms, in the case of the Government Housing Bank (GHB) may need to raise some interest rates. but must not be fully adjusted Currently, the Ministry of Finance has asked to hold interest rates as long as possible to help people during the rising cost of living.
“The Treasury wants the State Bank to hold interest rates as long as possible. to help people But in the overall picture, we have to look at the policy of the Monetary Policy Committee (MPC) and what the direction is. The Bank of Thailand will raise interest rates. It will also have to look at the policy. If the MPC raises the policy in August, it must be taken into account.” Mr Arkhom said
By InfoQuest News Agency (01 Jul 65)
Tags: Ministry of Finance, Bank of Thailand, real estate, Magic Termpittayapaisit