JAKARTA - Minister of Housing and Settlement Areas (PKP) Maruarar Sirait (Ara) is optimistic that he can distribute more FLPP quotas above 220,000 units by 2025.
This was revealed after Bank Indonesia (BI) stated that it was ready to provide a macroprudential liquidity incentive of IDR 80 trillion to banks that distributed mortgages.
"So, we can make it (the distribution of FLPP) double Mr. Governor (BI). This will be throughout Indonesia's history with what you (BI) are doing. We can make subsidized houses for our people this year increase tremendously," said Ara at a press conference at the BI office, Jakarta, Tuesday night, February 11.
With the selling price of subsidized houses of around Rp. 170 million in Jabodetabek and Rp. 166 million outside Jabodetabek, Ara estimates that the incentives from BI can help increase the quota of subsidized houses.
From what was originally only able to distribute around 220,000 units a year, now it can double it by about 440,000 units a year.
"So, we have calculated that from the Rp80 million, we have built what is already available from the State Budget (75 percent) and from banks (25 percent) for 220,000 houses. So, if it was 220,000 houses, we calculated multiplied by Rp170 million, sir (Hereu)? Rp38 trillion (the required budget value) is approximately enough. So, we can make that (FLPP distribution) double Mr. Governor (BI)," said Ara.
On the same occasion, Ara thanked Governor (BI) Perry Warjiyo for being willing to support the housing sector, especially the realization of the program of 3 million houses.
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"We view that the housing sector will provide support for high economic growth and employment. If the housing advances, of course, not only will the economic growth progress, but it can also encourage and attract other sectors," said Perry.
Perry explained that his party has currently distributed macroprudential liquidity incentives worth IDR 23.19 trillion. After today's meeting, Bank Indonesia agreed to gradually increase its value to IDR 80 trillion to support the program of 3 million houses.
"What is now Rp. 23.2 trillion will gradually increase it to Rp. 80 trillion," he added.
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