Thai Builders Push for Fixed-Rate Mortgages to Boost Housing Affordability
Thai builders urge government to introduce long-term, fixed-rate mortgages to make housing more affordable for low-income buyers. This move could significantly reduce the financial burden, for instance, making a 1 million baht home accessible to someone earning 9,000 baht instead of 18,000 baht.
The Thai Builders Association has called on the government to implement this change, which would not require direct subsidies. Meanwhile, industry experts acknowledge the challenge of balancing sustainability and affordability. They note that consumers sometimes prioritise lower prices over long-term value, even when it comes to sustainable practices.
Panelists at a recent event highlighted the need for forward-thinking urban planning and fair enforcement of existing regulations. They also recommended exploring social housing policies and incentivising environmentally responsible developers. However, they acknowledged significant structural obstacles like bureaucratic complexity and immediate economic pressures that hinder sustainable policy implementation.
The tension between sustainability and affordability is real, but experts urge the government to adopt a holistic view that balances environmental concerns with social inclusivity and economic viability. By doing so, Thailand can work towards sustainable urban development that benefits all sectors of society.
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