SENA collaborates with the new business "Ngern Sod Jai Dee" to provide a fresh solution for the significant challenges faced by aspiring homeowners. The company highlights that customers are struggling with the aftermath of the COVID-19 crisis, economic slowdown, inflation, rising interest rates, and increased living costs, which are leading to a decline in homebuyers and ongoing difficulties in securing loans. Recently, SENA has launched 12 pilot projects under the "SENA Kith" brand, participating in a campaign for quality condominiums in prime locations that are ready for occupancy.

According to Assoc. Prof. Dr. Kesara Thanyalakphak, Managing Director of SENA Development Public Company Limited, the prolonged COVID-19 crisis has significantly impacted many Thais, leading to financial difficulties and burdens from housing loans. This situation is exacerbated by inflation, rising interest rates, and increasing living costs, which have clearly reduced consumers' ability to purchase housing.

At the same time, the Monetary Policy Committee (MPC) has decided to raise the policy interest rate by 0.25% per year, from 1.50% to 1.75%. This increase in interest rates is a negative factor affecting the real estate sector, as it diminishes consumers' purchasing power while home prices continue to rise. This disparity makes it increasingly difficult to secure home loans, leading to a rise in loan rejections. Additionally, household debt remains high, indicating that the real estate market this year is not as promising as previously anticipated.

Financial institutions have tightened their lending measures, making it increasingly difficult to obtain loans, which has resulted in a higher rejection rate. This has become a significant ongoing issue, especially in certain areas where loan rejection rates exceed 50%. For homes priced between 1-2 million baht and 3-5 million baht, individuals with fixed incomes often face additional debt burdens, such as car loans or credit card debts from consumer purchases. However, the challenge of securing a home loan is not solely due to individuals' lack of savings or financial discipline; it is also influenced by the country's economic structure and the global economic situation that has been building up over time.

Previously, SENA has been actively targeting the low-end condominium market through the "SENA Kith" brand. The company has identified that customers with limited incomes can afford monthly payments of 3,000 to 4,000 baht, yet most already have existing debts. The loan rejection rate is significantly high without proper screening by sales staff before submitting loan applications to banks. SENA has recognized that many customers want to own homes but lack savings and financial planning, making it difficult for them to secure loans. Additionally, many young people, especially Gen Z, struggle to accumulate wealth as the growth of currency does not keep pace with the cost of living. Thus, SENA is seeking ways to address these issues for customers wishing to purchase housing.

Recently, SENA launched a new business under the name "Ngern Sod Jai Dee" as an alternative for those who wish to own a home but lack financial liquidity or face various challenges. This service offers options for customers who may struggle to secure home loans, including: 1. Hire purchase loans that allow immediate occupancy in homes/condominiums, with gradual repayment of the loan principal; 2. Loans for contract fees; 3. Low-interest loans to reduce interest burdens, among others.

Furthermore, SENA is preparing a special campaign for the "SENA Kith" brand, featuring 12 quality projects with prices starting at under one million baht. Details of the "SENA Kith" projects participating in the campaign can be found at https://property.sena.co.th/sena-kith-x-ngernsod-jaidee/. Stay tuned for the full business plan of "Ngern Sod Jai Dee," which will provide loan services for those looking to purchase or rent housing soon.