The Jakarta Post
President Joko “Jokowi” Widodo attended on Thursday an event to inaugurate affordable housing for low-income people in Bekasi, West Java, on Thursday as part of his 1 million homes program.
The Villa Kencana Cikarang housing complex was developed by PT Bank Tabungan Negara (BTN) in cooperation with PT Arrayan Bekasi Development on 105 hectares of land in Bekasi, West Java.
The developer has constructed 4,734 of the 8,749 planned houses there. A 25-square-meter house on 60-square- meter plot of land sells for Rp 112 million (US$8,396) to Rp 141 million.
The houses are being sold through a credit scheme that requires a 1 percent down payment. “I don't think the Rp 800,000 or so in monthly installments will be a burden for those who want to buy a house. It would be better for them to buy a house rather than rent one for Rp 500,000 a month,” he added.
In a speech during the ceremony, Jokowi shared his experience when he had to rent a house before finally managing to buy his own home.
“I rented a two-bedroom house, like the houses here, for about nine years before I finally got my own house,” he said.
The government issued its flagship 1-million homes program last year to reduce the housing backlog to 6.8 million houses in 2019 from 13.5 million in 2014. (ecn/bbn)