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Housing Ministry to build 70,000 houses for workers this year
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An aerial view of a subsidized housing complex at Puuwatu district in Kendari, Southeast Sulawesi, on August 1, 2024. Property developer association Real Estate Indonesia
has blamed peer-to-peer loans as one of the prominent causes behind the bad credit history of
potential homeowners that could bar them from buying houses. (Antara/Andry Denisah)
T
he Public Housing and Settlements Ministry is planning to build 70,000 subsidized homes this year for workers in various sectors, including in the health, education and fishery industries, as part of President Prabowo Subianto’s ambitious 3 million homes program.
Housing minister Maruarar “Ara” Sirait revealed the plan during his visit to Energy and Mineral Resources Minister Bahlil Lahadalia’s house in South Jakarta on Monday, the first day of Idul Fitri.
Ara explained that the upcoming project would include 30,000 homes for healthcare workers, 20,000 for teachers and 20,000 for fishermen, noting that the President’s initiative was supported by House of Representatives Deputy Speaker Sufmi Dasco Ahmad of Prabowo’s Gerindra Party and Bank Indonesia (BI) Governor Perry Warjiyo.
“We have received major funding support to build the housings, thanks to BI’s relaxation policy,” the minister said, as quoted by Bisnis.com.
BI increased on Tuesday the incentive for the Macroprudential Liquidity Incentive Policy (KLM) from 4 percent to 5 percent, specifically for banks financing the housing sector.
It has further allocated Rp 23 trillion (US$1.38 billion) for the initial phase of the incentive program, with plans to gradually increase it to Rp 80 trillion.
Read also: Developers complain over lack of clarity in housing program
