Housing Finance Mechanisms in Thailand

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CHAPTER THREE

HOUSING DEVELOPMENT IN BANGKOK

The long period of housing development in 3.1.1 THE FIRST 150 YEARS OF BANGKOK (1782 - 1932) Thailand and in Bangkok in particular, has provided a great deal of experience. This chapter collates evidence of a large number Since Bangkok’s establishment in 1782, of changes in the housing market. The les- there were few public or private housing sons are a reminder to planners as they try provisions for the following 150 years. to prevent future market crises, and avoid Housing was not a problem, for Thailand as a possible market failure in housing develop- formerly agricultural-based country:.people ment. In this chapter, chronological housing housed themselves without any problems. provisions are reviewed, concluding with For the first 100 years (since 1782), there remarks and lessons learned over a period was not much development. Roads were constructed on a wide scale between the of time. years 101 and 150. In 150 (A.D. 1932), the Town and Country Planning Act was finally adopted. 3 .1 D EVELOPM E NT OF THE

HO U SING SECT OR In understanding housing development in Bangkok, it is worthwhile reviewing the chronological changes in housing provisions. Thai housing activities have matured only in the past 50 years. Prior to the 1960s, there were very few private developers.

In the 1920’s, residential land sub-divisions were considered the foremost form of typical housing provision. It was understood that the areas of Sathorn, Wireless, Rachadamri, Ploenchit and Phayathai were residential land sub-divisions initiated during the reign of King Rama VI mostly for his senior officials. Today, some large mansions can still be observed in these areas, particularly in Sathorn (Pornchokchai: 1992, 45).

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