JAKARTA - The Ministry of Public Works and Public Housing is allocating Rp 1.5 trillion in a subsidised housing programme for low-income earners. The fund is channeled through the Mortgage Liquidity Facility (FLPP) programme, price-difference subsidy (SSB), and down payment assistance.
“The subsidy will be allocated starting April and May in cooperation with implementing banks,” said Public Works Minister Basuki Hadimuljono as quoted by Antara, Tuesday (7/4). He added that the subsidy is allocated for the purchase of 175 houses.
On April 1, 2020, the government unveiled a fiscal stimulus for the housing sector in the form of a price-difference subsidy while maintaining down payment assistance funds for mortgage holders. The facility is aimed at people with a maximum income of Rp 8 million who do not own a house and have not ever received any form of government housing assistance.
Three banks have declared their readiness to implement the programme, namely PT Bank Negara Indonesia (Persero) Tbk (BBNI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), and PT Bank Tabungan Negara (Persero) Tbk (BBTN). (MS)