TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Low-income citizens to get home-loan subsidy
The government will provide a package to boost the development of low-cost housing, including a Rp 4 million (US$307) subsidy for low-income citizens, to help them pay down payments on their home loans starting mid April, according to a minister
Change Size
T
he government will provide a package to boost the development of low-cost housing, including a Rp 4 million (US$307) subsidy for low-income citizens, to help them pay down payments on their home loans starting mid April, according to a minister.
"I really hope for good cooperation with the Indonesian Real Estate Developers Association [REI]. We will provide facilities for REI in its efforts to develop public housing and for people to purchase proper housing," Public Works and Public Housing Minister Basuki Hadimuljono said during an event marking the 43th anniversary of REI in Pontianak, West Kalimantan on Saturday night.
"Those eligible for the home-loan subsidy are those with income of up to Rp 4 million per month, while those with up to Rp 7 million are entitled to the subsidy for low-cost apartments," he said as quoted by Antara news agency.
Basuki said the government had allocated Rp 220 billion for the down payment subsidy program, while also preparing a regulation to allow banks to lower home loan down payments to 1 percent.
The minister said the arrangements were aimed at accelerating the implementation of the government's program to build 1 million houses (over the next five years). (+++++)
