Jokowi's Incentives For The Property Sector, This Is A Positive Impact On BTN
PT Bank Tabungan Negara (Persero) Tbk (BTN) said the Government's incentive plan for the housing sector would maintain a growth trend in the distribution of Home Ownership Loans (KPR) in the company growing at double digits.
As is known, the Government has issued a policy that it will cover VAT for house prices of up to Rp. 2 billion. The government also provides incentives for MBR in the form of housing administration management assistance ranging from land and building rights acquisition duties (BPHTB) and others reaching Rp. 4 million.
Director of Consumer Bank BTN Hirwandi Gafar appreciated the Government's move to provide these incentives, especially to make it easier for Indonesians to have housing. This incentive, he continued, will also encourage the distribution of mortgages because the majority of potential house buyers still make mortgages the main choice to own a house.
In Bank BTN itself, said Hirwandi, more than 90% of the BTN KPR portfolio is still dominated by houses with prices below Rp. 2 billion, including the cheap housing segment. In addition to focusing on distributing KPR Subsidies, Bank BTN is also intensely targeting Non-Subsidi mortgages that target the affluent emerging segment. This strategy was executed by opening 3 Sales Centers in BSD, Kelapa Gading, and Surabaya.
"As of August 2023, we have recorded a portfolio of KPRs, both subsidies and non-subsidies, growing double digits above 10 percent. With these incentives, we are optimistic that the growth trend of mortgages will continue until the end of 2024," said Hirwandi in Jakarta, Thursday, October 26.
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Hirwandi also said that currently, almost 90 percent of the total BTN mortgage customers are the first house buyers by buying directly through more than 7,000 BTN developer partners. So, with the Government stimulus, more and more Indonesians can have their own housing so as to reduce the number of backlogs.
"This incentive, apart from the housing sector, will also have an impact on the national economy because housing provides a multiplier effect for 185 sub-sectors related to this industry," said Hirwandi.
It is planned that there will be 2 stages of implementing the VAT DTP incentive. The first stage, the provision of tax incentives will be given 100 percent in November 2023-June 2024. The second stage, given 50 percent for the July-December 2024 period.