Affordable Housing Policies and Programs Thailand
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Transcript of Affordable Housing Policies and Programs Thailand
Affordable Housing Policies and Programs Thailand
Affordable Housing Policies and Programs
Khan Prachuabmoh, President
Government Housing Bank
Thailand
January 27, 2010
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 - $US4,072
Affordable Housing Policies and Programs - Thailand
Underlying theme -HM the King’s sufficiency economy initiatives
1997 and global economic crisis
Moderation
Reasonableness
Need for risk self-immunization or
built-in resistance
Affordable Housing Policies and Programs - Thailand
Affordable Housing Policies and Programs - Thailand
Housing Policies
No comprehensive national housing policy
3 main government units implement government middle and
low-income housing programs
Government Housing Bank (GH Bank), National Housing
Authority (NHA) and Community Development
Organization Institute (CODI)
Private sector provides housing from low-income to
multi-million baht homes
Affordable Housing Policies and Programs - Thailand
New Policies
Cabinet approved National Housing Policy
Committee – May 28, 2008
Major responsibility of NHPC – oversee
formulation of comprehensive long-term
national housing policy
No more reliance on individual government’s
housing policies
Affordable Housing Policies and Programs - Thailand
Specialized Financial Institution (SFI) – Ministry of Finance
Major emphasis – lower and middle income mortgages
Total Assets Bt 692 billion ($US 21.6 billion) (12/31/09)
Net income Bt5 billion ($US157 million) (12/31/09)
37.3 per cent of all outstanding individual housing loans (2009)
About GH Bank
Affordable Housing Policies and Programs - Thailand
Government Pension Fund
members housing loans
Baan Eur-Athorn
Board of Investment (BOI)
low-income housing programs
Special GH Bank’s Housing Loan Programs
Affordable Housing Policies and Programs - Thailand
Special GH Bank’s Housing Loan Programs
GH Bank First Home Project
Energy efficient projects
Saving for future home projects
Affordable Housing Policies and Programs - Thailand
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
National Housing Authority (NHA)
Affordable Housing Policies and Programs - Thailand
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
NHA – Baan Eur-Arthorn Project
Affordable Housing Policies and Programs - Thailand
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
Affordable Housing Policies and Programs - Thailand
Well developed private-sector housing industry
Provide most homes from low-income sector
to multi-million dollar homes
Commercial bank financing readily available
– 50 per cent market share
Private-sector developers and commercial banks
Affordable Housing Policies and Programs - Thailand
Keys to future growth – policy issues
Reducing land, construction and other
costs
Further developing housing-financing
markets
Developing secondary housing markets
Housing finance education for the public