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Subsidized house prices are a hot topic among Indonesians, especially for those who aspire to own a home but have limited budgets.
As property prices continue to rise, the Indonesian government has introduced subsidy programs to assist middle-to-low-income families in achieving homeownership. However, many people still lack a full understanding of this program. Therefore, this article will provide an in-depth discussion on subsidized housing, its benefits, and its prices.
What is a Subsidized House?
A subsidized house is a type of housing built to help low-income families own decent homes at prices more affordable than the market rate.
Subsidized houses differ from regular homes in several ways, including specifications, price, loan tenure, and monthly installments.
According to the Directorate General of Infrastructure Financing at the Ministry of Public Works and Housing (PUPR), subsidized houses can be purchased through a Housing Loan (KPR) scheme, either conventional or Sharia-based.
To qualify for a subsidized house, prospective buyers must meet specific criteria, such as having an income within the stipulated range and not already owning a house.
Benefits of Subsidized Houses
One of the primary advantages of subsidized housing, as mentioned earlier, is its affordability compared to non-subsidized homes. Here are other benefits:
1. Lower Down Payment
As the program targets low-income families, the down payment (DP) is more affordable. This becomes even easier if you use the KPR program.
2. Lower House Prices
The relatively low prices of subsidized houses ensure manageable monthly payments. For example, in Tangerang, a subsidized house is priced at IDR 150 million. If you choose a 10-year tenure, your annual payment would be IDR 15 million or IDR 1.25 million per month.
3. Long Loan Tenure
Subsidized houses come with the benefit of extended loan tenures, up to 20 years. Additionally, they have fixed interest rates, ensuring that your monthly installments remain constant.
4. Move-In Ready Homes
For those who want to avoid the hassle of building a house from scratch, subsidized housing is an excellent choice. The government ensures that subsidized houses are ready to occupy, meaning there are no pre-construction delays.
Buyers can visit the site directly to inspect the house and its facilities, ensuring that the subsidized housing meets quality standards.
Prices of Subsidized Houses in Indonesia
If you're planning to buy a subsidized house, it’s essential to research its price range first. Below are the prices based on regions in Indonesia, as stated in the Ministry of PUPR Decree No. 242/KPTS/M/2020:
- Java Island (except Jabodetabek): IDR 150,500,000
- Jabodetabek: IDR 168,000,000
- Sumatra (except Riau Islands, Bangka Belitung, Mentawai Islands): IDR 150,500,000
- Sulawesi, Bangka Belitung, Mentawai Islands, Riau Islands (except Anambas Islands): IDR 156,500,000
- Kalimantan (except Murung Raya and Mahakam Ulu Districts): IDR 164,500,000
- Maluku, North Maluku, Bali, Nusa Tenggara, Anambas Islands, Murung Raya, Mahakam Ulu Districts: IDR 168,000,000
- Papua and West Papua: IDR 219,000,000
Conclusion
This comprehensive guide explains what subsidized housing is, its benefits, and prices based on regions. Make sure to choose the best subsidized housing from a trusted developer like Ingria Group.
Since 2013, Ingria Group has been delivering high-quality subsidized housing projects, so you don’t have to worry about their reliability. Achieve your dream of owning a home with Ingria Group!
