State-owned GH Bank expects 10,000 houses, apartments and condos to join the bank's housing loan project for low-income earners.
GH Bank president Chatchai Sirilai said the bank surveyed the supply of housing loans under the project and found there were about 10,000 prospective units this year.
These units will be forwarded for approval by GH Bank's board of directors next month and the housing loans will begin next year, Mr Chatchai said.
Some 10,000-30,000 housing units will be built in the first development phase, under 10 housing brands of three property developers.
The space for each unit is fixed at 28 square metres.
Most units will be in condominiums along the skytrain and MRT lines.
The second development phase remains under negotiation with property developers and is likely to see development of up to 100,000 housing units over the next two years, Mr Chatchai said.
Deputy Prime Minister Somkid Jatusripitak earlier instructed GH Bank to propose a plan to the government within 3-4 months to develop high-rise residential projects on a massive scale for low-income earners, those building families and senior citizens.
The state-owned mortgage lender will work with the National Housing Authority and the private sector to develop residential projects in every province across the country.
Mr Chatchai said borrowers who have no sustainable income need to make a deposit for nine months with GH Bank and should have at least 8,000 baht deposited in the last month to gain loan approval.
Target groups are those who are eligible for affordable housing loans such as low-income earners, young adults and senior citizens, he said.
Full loan amount is no more than 1 million baht, and loan repayment is capped at 3,000-4,000 baht a month, with the term lasting as long as 40 years.
For senior citizens who have houses but no income, they can apply for a reverse mortgage loan and GH Bank can provide monthly income to property owners, with a term loan set at 30-40 years.