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View all search resultsPrabowo rolls out 26,000 subsidized homes amid sluggish program
Finance Minister Purbaya Yudhi Sadewa warned that he would pull FLPP funds if the Housing Ministry failed to fully absorb them for the subsidized housing program.
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Housing and Settlements Minister Maruarar 'Ara’ Sirait (left), President Prabowo Subianto (center), Coordinating Infrastructure Minister Agus Harimurti Yudhoyono (right) and community representatives at the launch on Sept. 29 of 26,000 subsidized homes nationwide in Bogor, West Java. (The Housing and Settlements Ministry/-)
T
he government has launched 26,000 subsidized homes under the existing Housing Finance Liquidity Facility (FLPP) program for low-income people, as part of President Prabowo Subianto’s flagship 3 million houses program.
Speaking at the launch event on Monday in Bogor, West Java, President Prabowo highlighted the housing sector as “the engine of economic growth, the engine of economic development.”
“Therefore, we have set a very high target of 3 million houses,” he said.
Housing and Settlements Minister Maruarar “Ara” Sirait said the FLPP program, which was launched during former President Susilo Bambang Yudhoyono’s administration in 2010, could help address the country’s persisting housing backlog.
“There is a housing backlog of 9.9 million people. To address this, the quota for subsidized homes has been increased from 220,000 per year [...] to 350,000. This is the largest quota in history,” he said.
Ara added that the government would expand the Independent Housing Stimulus Assistance (BSPS) program, which is set at 45,000 units this year and will rise to 400,000 units next year.
He also announced plans to continue implementing waivers for the Land and Building Rights Acquisition (BPHTB) tax and the Building Development Approval (PBG), as well as maintaining the mortgage rate in the FLPP program at 5 percent this year.
