New LTV Measures Implemented Immediately!!
To support citizens in owning their own homes, additionally, first-time homebuyers can borrow an additional 10% for furniture purchases.
Furthermore, for those buying a second home, the Bank of Thailand has relaxed the rules, allowing those who have paid for their first home for 2 years or more to apply for a loan of up to 90% for the second home (previously, it required 3 years of payments on the first home).
Moreover, for properties priced over 10 million baht, the Bank of Thailand has reduced the down payment requirement to just 10% from the previous 20%.
This adjustment to the LTV measures, while not a complete deregulation, does ease some of the strictness from previous measures that had stalled the real estate market towards the end of last year. It remains to be seen whether the real estate market can recover this year.
However, it is certain that the latest LTV measures still impact investors as most investors are on their third contract or beyond, which remains unchanged. This measure is aimed at assisting real demand, particularly for first-time homebuyers, marking a golden opportunity for genuine first-time homebuyers.
