Mr. Natthaporn Jatusripitak, spokesperson for the Deputy Prime Minister on Economic Affairs, revealed that the Cabinet meeting on March 12, 2019, approved the adjustment of the framework for the government's housing loan project (Million Houses) by agreeing to request an additional budget of 789.66 million baht to support interest for borrowers during the first three years. This will be divided into two groups: those with incomes not exceeding 25,000 baht per month and those with incomes exceeding 25,000 baht per month. This adjustment brings the total budget for the fiscal year 2019 to 4,666.31 million baht, up from the original 3,876.65 million baht.

          This decision comes after the registration for home buyers began on December 23, 2018, and the summary of applicants showed that those with incomes below 25,000 baht per month applied for a total of 112,064 million baht, while those with incomes above 25,000 baht reserved a total of 14,038 million baht. This was inconsistent with the initial budget allocation of 50,000 million baht, which was intended to support 20,000 million baht for those with incomes below 25,000 baht and the remaining 30,000 million baht for those with higher incomes.


          "When we opened the registration and saw that many individuals with incomes below 25,000 baht were interested in the program, it became clear that the initial budget was not aligned with the actual demand. Therefore, we need to adjust the original allocation of 50,000 million baht to provide 40,000 million baht for those with incomes below 25,000 baht and the remaining 10,000 million baht for those with incomes above 25,000 baht to better reflect reality. Thus, we need to request an additional 789.66 million baht," Mr. Natthaporn stated.


          Nevertheless, the support conditions remain unchanged: individuals with incomes not exceeding 25,000 baht per month will receive a fixed interest rate of 3% for the first five years, while those with incomes exceeding 25,000 baht per month will receive a fixed interest rate of 3% only during the first three years.

 

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