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Jakarta Post

Zero percent down-payment housing scheme feasible near Jakarta: Official

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, August 24, 2017   /   09:27 pm
Zero percent down-payment housing scheme feasible near Jakarta: Official An aerial view of Penjaringan neighborhood in North Jakarta. (ANTARA FOTO/Hafidz Mubarak A)

Jakarta administration secretary Saefullah has said the zero percent down-payment housing scheme, one of the key campaign promises of Jakarta governor-elect Anies Baswedan and his deputy Sandiaga Uno, is feasible on the outskirts of Jakarta, and under the condition that the administration covers the down payments.

Saefullah was referring to areas close to Bekasi and Tangerang, such as Rorotan, Marunda and Cakung, where land prices were considered low at about Rp 3 million per square meter.

Land prices in these areas are low compared to downtown prices, which can reach dozens of millions of rupiah per square meter.  

The scheme could be implemented when a house was selling for about Rp 300 million, he said.

“[The government should regulate] the minimum down payment at 1 percent. If the price of the house is Rp 300 million, the administration can fulfil the requirement by covering the Rp 3 million down payment,” Saefullah said on Wednesday as quoted by tribunnews.com  

Apart from that, the scheme could be conducted through cooperation between the administration and developers that construct houses on land owned by the administration, he said. (cal)