The State Railway of Thailand’s subsidiary, SRT Asset Co. Ltd. (SRTA), announced the upcoming launch of the "Houses for Thais" project, offering affordable housing with payments starting at 4,000 THB per month and no down payment. The initiative aims to support young professionals and middle-income earners, particularly Generation X and Y.

The project will be officially launched on January 20, 2025, at Bangkok Apiwat Central Station. Sales offices and model units will be unveiled, with the pilot project located at Bang Sue Km. 11. Four locations have been selected for the first phase, based on infrastructure readiness, economic potential, and social factors: Bang Sue Km. 11 (Bangkok), Chiang Mai, Chiang Rak (Pathum Thani), and Thonburi (Bangkok).

Project Details by Location

  1. Bang Sue Km. 11 (Bangkok):
    • 15-rai area near Vibhavadi 11, 2.5 km from Bangkok Apiwat Station and 500 meters from Central Ladprao and MRT Phahon Yothin.
    • 1,232 units in a condominium complex.
    • Prices:
      • 30 sq.m. unit: 1.76 million THB
      • 40 sq.m. unit: 2.36 million THB
      • 45 sq.m. unit: 2.65 million THB
      • 50 sq.m. unit: 3 million THB
  2. Chiang Mai:
    • 7-rai area near Charoen Muang Road, 2.6 km from Payap University and 1.3 km from the Superhighway.
    • 720 condominium units priced at 1.5 million THB each.
  3. Chiang Rak (Pathum Thani):
    • 18-rai area near Chiang Rak Station, 4.4 km from Thammasat University and Thammasat University Hospital.
    • 1,795 units priced at 1.34 million THB each.
  4. Thonburi (Bangkok):
    • 23-rai area near the Sala Nam Ron Market, 800 meters from the Red and Orange Skytrain lines.
    • Approximately 2,100 units, pending further study.

Investment and Financing

The total estimated investment for the first phase exceeds 4.6 billion THB, including:

  • Land lease payments to SRT (~100 million THB).
  • Pre-construction expenses (~260 million THB), such as design consultation, environmental impact assessments (EIA), and permits.
  • Construction costs (~3.46 billion THB).
  • Miscellaneous operating expenses (~864 million THB).

The project will collaborate with state-owned banks, such as Government Housing Bank (GHB) and Government Savings Bank (GSB), to secure low-interest loans for development and to offer affordable mortgages to buyers. GHB, for instance, offers fixed-interest loans at 2.5% for 25 years, enabling monthly payments of 4,000 THB.

Public Support and Concerns

Atip Bichanond, Honorary President of the Housing Business Association, expressed support for the project, commending its focus on affordability and proximity to urban centers and transportation. However, he urged the government to establish strict eligibility criteria to ensure the homes benefit low-income individuals who will occupy them, rather than investors exploiting the opportunity for rental profits.