The minister made this announcement after a limited meeting with President Prabowo Subianto at the Presidential Palace Complex in Jakarta on Wednesday.
"I reported that we are going to launch subsidized housing in September. The program will be launched massively in September, with at least 25 thousand units, and the president will attend," he remarked.
He explained that this is part of increasing the national subsidized housing quota, which has reached 350 thousand units this year, up from around 200 thousand units in previous years.
These subsidized houses are allocated to various community groups. Farmers, fishermen, laborers, and teachers receive 20 thousand units respectively, while drivers receive eight thousand units and media workers receive three thousand units.
Sirait explained that the subsidized housing financing scheme uses a five percent interest rate, as it is much lower than the 12 percent interest rate for commercial housing.
"One of the breakthroughs was the interest rate, only five percent, because it is subsidized. Commercial housing is 12 percent," the minister stated. He also noted that the down payment is only one percent. "The down payment is one percent, so there is a high demand," he remarked.
Sirait attributed the program's success to support from various parties, including President Prabowo, Bank Indonesia Governor Perry Warjiyo, Deputy Speaker of the Indonesian House of Representatives Sufmi Dasco Ahmad, and Finance Minister Sri Mulyani.
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Translator: Fathur R./Andi F, Asri Mayang Sari
Editor: Primayanti
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