The Thai cabinet approved the third phase of the Government Housing Bank’s (GHB) “One Million Home” project today (Tuesday), estimated to be worth about 20 billion baht.

According to Finance Minister Arkhom Termpittayapaisith, the GHB will fund the third phase of the project for low income-earners, each of whom will be granted a loan of up to 1.5 million baht, payable over not more than 40 years, with 3% interest rate for the first five years.

Those interested in buying the housing units can apply for the loans with the GHB from now until December 3^rd, 2025, or until the 20 billion baht fund has been fully subscribed.

Arkhom said that the second phase has been fully subscribed. Approvals have been granted to 22,240 buyers worth about 19.9 billion baht.

47 of the housing units under the second phase were priced between 500,000 baht and one million baht’. 42% were priced at between one million and 1.5 million baht and 11% were priced at 500,000 baht or below.

36% of the housing units are located in Bangkok and suburbs and 64 percent in other provinces.