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Govt offers millennials subsidized houses amid soaring prices
This year, the government is expecting the construction of 1,250,000 houses, with millennials as the largest potential buyers.
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President Joko "Jokowi" Widodo inspects a low-cost house in Bekasi, West Java, which is part of his annual 1 million housing program. (JP/ecn)
The Public Works and Housing Ministry is campaigning for the sale of houses to millennials with government subsidies amid soaring house prices this year.
“We are currently working on the 1 million houses program [PSR] for the supply of houses for all layers of society, including millennials,” the ministry’s housing provision director general, Khalawi Abdul Hamid, said on Wednesday.
President Joko “Jokowi” Widodo initiated the PSR in April 2015 as one of his national strategic projects, for the construction of 1 million houses per year for community members, based on Presidential Regulation No. 3/2016 on the acceleration of the implementation of national strategic projects.
In implementing the PSR, the government has cooperated with a number of stakeholders, including banks, developers and private companies.
As of 2018, 3,542,318 houses had been built under the PSR project. The year 2018 alone saw the construction of 1,132,621 houses, 13 percent higher than the annual target.
He said that this year, the government was expecting the construction of 1,250,000 houses, with millennials as the largest potential buyers.
