BAM has launched a "rent-to-own" model alongside "direct instalments" to widen the options for Thais who want to buy a home but face high expenses, slowing income and purchasing power, rising housing prices, and worries about loan rejections and credit denials from financial institutions. Dr. Raks Worakitpokatorn, Chief Executive Officer of Bangkok Commercial Asset Management Public Company Limited, or BAM, said access to credit is one of the key problems in today's real estate market, especially in the housing segment priced at roughly 2 to 5 million baht and among low-income earners, the self-employed, and those with irregular income. BAM has given the public the chance to pay for properties directly to BAM through the "Mahachon Assets" programme, which brings non-performing assets, or NPA, including detached houses, townhouses, condominium units, shophouses, and land in locations nationwide, to add more choices. Currently more than 21,000 properties have joined the programme. Dr. Raks said the overall real estate market still has a large amount of supply, while purchasing power and access to credit are constrained. Therefore, solving the problem should not focus only on creating new supply, but should bring existing properties back to be managed, improved, and passed on to those who genuinely need to use them at an appropriate price.
Bangkok Commercial Asset Management Public Company LimitedBAM launched a rent-to-own plus direct instalments model and its Mahachon Assets programme with over 21,000 NPA properties to reach buyers denied bank loans.
