PUPR Minister Preps Best Housing Finance Scheme for Millennials
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1 September 2023 09:42 WIB
TEMPO.CO, Jakarta - Indonesian Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono confirmed that the government was formulating a housing finance scheme best suited to millennials.
“We are looking for the right housing finance formula or scheme for the millennial generation,” Basuki said at the peak event of the National Housing Day (Hapernas) at the PUPR Ministry Auditorium in Jakarta, on Thursday, August 31, 2023.
Basuki acknowledged that a lot of Indonesian people who were born between 1977 and 1994 wished to own their first dwelling. “If there is no special scheme, it will be difficult for the millennial generation to possess a house,” he added.
Basuki hoped that the monthly installments for the purchase of a house for Generation Y could be set below Rp3 million. He also expected that the installment interest rate could be kept below eight percent.
“Whether the installment interest can be subsidized by the government or not is certainly being discussed between the PUPR Ministry and the Finance Ministry,” Basuki said.
The PUPR Ministry together with stakeholders commemorates the National Housing Day every August. Hapernas originated from the Healthy People's Housing Congress which was inaugurated by the First Vice President of the Republic of Indonesia, Muhammad Hatta or Bung Hatta, on August 25, 1950.
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