JAKARTA - Minister of Housing and Spatial Planning (PKP) Maruarar Sirait has decided to extend the tenor of subsidized housing installments to 30 years.
"Yesterday we decided with BP Tapera that the time (tenor) has been the longest for 20 years, at the direction of President Prabowo Subianto that we must be pro-people, we increase the installment for the people of Indonesia is 30 years, not 20 years anymore," said Minister Maruarar quoted by Antara.
Apart from the presidential directive, the decision is also to encourage the acceleration of the 3 Million House Program.
Minister Ara believes that a longer credit tenor can make the price of houses more affordable so as to ease the burden of home installments for the community.
In addition to extending the credit tenor, the government has also prepared various other efforts to accelerate the construction of people's housing, including land provision and financing schemes involving various parties.
One of them is synergy with the Lippo Group which donated three areas of land to the government. This land is planned to be used to build vertical housing with a target of 140 thousand units.
Regarding the extension of the tenor, this plan was previously conveyed by Minister Ara on Friday (27/2).
He said this extension of the tenor was an important breakthrough in the national housing financing program.
This step is part of the government's efforts under the leadership of President Prabowo Subianto to expand access to more affordable housing ownership for low-income (MBR) and middle-income (MBT) people.
This policy complements the various facilities that have been provided by the government, such as the exemption from the Acquisition of Rights to Land and Building (BPHTB), the exemption from the Building Building Approval (PBG) for MBR, and the Government-Covered VAT (DTP) for the purchase of new houses or apartments worth up to IDR 2 billion which has been extended until 2027.
Minister of Finance Purbaya Yudhi Sadewa also supports this policy. He assessed that extending the tenor is an effective strategy to expand access to housing credit for the public.
"We support the steps of the Ministry of PKP and BP Tapera to extend the tenor to 30 years. That way, installments will be cheaper, DP can be lower, and people will find it easier to buy a house," said Purbaya.
He emphasized that this policy would encourage banks to participate in expanding financing services with longer tenors.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
