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“ Cross Country Experiences” THAILAND

Housing : An Engine for Inclusive Growth. “ Cross Country Experiences” THAILAND. Ballobh Kritayanavaj Senior Vice President G H Bank – Thailand 11 April , 2013. 1. Population and GDP : Thailand and South Asia Countries. source : IMF, World Economic Outlook Database, October 2012.

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“ Cross Country Experiences” THAILAND

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  1. Housing : An Engine for Inclusive Growth “Cross Country Experiences” THAILAND Ballobh Kritayanavaj Senior Vice President G H Bank – Thailand 11 April, 2013

  2. 1 Population and GDP : Thailand and South Asia Countries source : IMF, World Economic Outlook Database, October 2012

  3. 2 GDP Growth and Housing Completions in Bangkok and Metropolitan Region

  4. 3 Housing Ladders Prices of New Houses Offered for Sales in BMR Market 2012 by Private Housing Developers

  5. 4 EFFICIENT PRIVATE HOUSING DEVELOPERS Data : REIC Graphic : GH Bank

  6. 5 NHA’s Subsidized Low- Cost Housing Completions (2004 – 2012) Avg # 30,000 units/year

  7. 6 Home Loan Outstanding in Thailand

  8. Market Share of Home Loans Outstanding

  9. Residential Mortgages in the Thai Economy 7 Source : Bank of Thailand

  10. 8

  11. Key Elements for Efficient Housing Sector 9 • Economic growth (Sustainable – no bubble) - Job creation and employment stability • Housing provision for all Income levels(inclusive, new home & resale, housing ladders, public & private, rental & ownership) • National housing policy - Homeownership strategies • Legislation & regulations (Urban Planning/Zoning, land subdivision control, building control, condominium laws, environmental control, consumer protection etc.) • Land and infrastructure development(available - accessible) • Housing finance (available - accessible – affordable ) • - Low Interest rates – high LTV - long term up to 30 years)

  12. Key Elements for Efficient Housing Sector 10 • Land & property registration and transfer system(accurate and fast) • Fiscal policy (Taxation, subsidy - supportive) • Investmentpromotion for housing developer(privilege through BOI) • Labour and building materials (available – good quality) • Construction technology (appropriate - innovative) • Education +Training & counseling programs • Statistical data & Information (Real Estate Information Center) • Housing professional development(associations – developers –home builders financiers - valuers – brokers - sellers – property managers)

  13. INTEGRATED HOUSING AND HOUSING FINANCE MARKET (THAILAND) 11 Ministry of Interior Ministry of Social Development & Human Security Ministry of Finance Govt. Ministries Bank of Thailand Lands Department Dept. Public Works andTown Planning Special Financial Institutions Govt. Agencies National Housing Authority (NHA)Community Organizations Development Institute (CODI) (Regulators, Financiers, Developers, Land registrations, Investment promoter) Com. Banks Finance CompaniesOther Financial Institutions Govt Housing BankGovt Savings Bank SMC BOI Developers and Builders Mortgage Lenders Community/ Property Managers RE Brokers Valuers Private Sector Housing Finance Assoc. Thai Condominium Assoc.Housing Business Assoc.Thai Real Estate Assoc. Thai Home Builders Assoc. Property Mangt.Assoc. Thai Valuers Assoc.Valuers Assoc. of Thailand Thai RE Brokers Assoc. Professional Associations Training Centers Training & Education Universities • Housing developemt • Housing finance • Property Valuation • Brokerage business etc. • Real estate business • - Housing development - TRETS- Associations RU-ABAC CU - TU Private Medias and Research Co. REIC GH Bank Universities Information & research www.reic.or.th Websites www.ghbhomecenter.comHousing Journals (Thai) 19 yrsAPHJ (Eng) 6 yrs • Websites- Magazines (e.g. Home Buyer Guide etc.) • Radios Ballobh K. 20 Jan 2012

  14. Govt’s policies to promote the housing sector & economy • Housing market stimulation policy • Mortgage registration fee - Reducing1%  0.01% (loan amount) • Real estate transfer fee 2%  0.01% (appraised value) • Specific business tax (SBT)2%  0.01% (transaction price) • First time homeownership policy - Promoting more affordable housing •  GH Bank first home scheme • Total project loan amount : Bt 20,000 million • 0% interest rate (2- 3years) • LTV up to 100% • Loan amount up to 1 million • Homeownership taxation policy  interest from home loan is deductible for • income taxation (Bt50,000  Bt100,000) • Low cost housing development policy - Board of Investment (BOI) • - Condominiums < 1 million • - Land & house < 1.2 million- Income tax exemption for 5-8 years

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