BTN Projects Subsidized Mortgage Realization To Reach 180 Houses This Year

PT Bank Tabungan Negara Tbk (BTN) projects the realization of subsidized Home Ownership Loans (KPR) this year to reach 170-180 thousand houses.

Meanwhile, this year's non-subsidized KPR is predicted to exceed 200 thousand units.

"Until the end of the year, the projected subsidized mortgage can be 170-180 thousand houses, so non-subsidized classes can be more than 200 thousand units this year. That's not yet what is still being constructed, yes, this is already just a KPR," said Bank BTN President Director Nixon Napitulu after the Macroprudential Liquidity Policy Seminar event for Housing Sector Loans/ Financing in Jakarta, quoted from Antara, Thursday, October 5.

Nixon explained, for August 2023, the realization of mortgages by Bank BTN has reached around 110 thousand, while it is likely that by September 2023 it will increase to around 130 thousand units.

According to him, the current demand for housing is 90 percent dominated by millennials. Then with the Macroprudential Liquidity Credit (KLM) incentive targeting the housing sector, he hopes that this incentive can increase home ownership in Indonesia.

"Indeed, maybe not all sectors (incentives given), because BI had some focus, I thank you if housing is one of the concerns who is one of the recipients of this relaxation," said Nixon.

Previously, PT Sarana Multigriya Finansial (Persero) or SMF again issued Asset Wearing Effects in the form of Participation Certificates (EBA-SP) for the EBA-SP SMF-BTN08 series worth Rp600 billion.

The series is the result of BTN mortgage asset securitization transactions. The issuance of EBA-SP SMF-BTNU08 was officially listed on the Indonesia Stock Exchange (IDX) on September 26, 2023 and has an idAA rating from PT Pemeringkat Efek Indonesia (Pefindo).

EBA-SP SMF-BTNU08 is offered through a public offering with a 4-year Weighted Average Life (WAL) tenor with a nominal value of IDR 544.8 billion or 90.8 percent of the total number of bills and fixed interest rates of 6.60 percent per year.

In the transaction, in addition to serving as a publisher, SMF also acts as an arranger and credit supporter. Meanwhile, BTN acts as a creditor of origin and service provider.