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Subsidized Housing Program
The subsidized housing program is a government initiative aimed at helping middle and lower-income people own homes. These homes can be purchased through a mortgage scheme (KPR). The government hopes that through this program, more people will be able to buy affordable yet quality homes.
Subsidized housing is available in many regions of Indonesia. However, to ensure the program reaches the right people, there are certain requirements to determine who can purchase subsidized homes.
Price of Subsidized Homes
If you plan to buy a subsidized home, it’s advisable to research the prices beforehand. Below is the list of subsidized home prices in Indonesia according to their regions, as per the latest decision from the Minister of Public Works and Housing (PUPR) No. 689/KPTS/M/2023:
- Java Island (excluding Jabodetabek): IDR 162,000,000
- Jabodetabek: IDR 181,000,000
- Sumatra Island (excluding Riau Islands, Bangka Belitung, Mentawai Islands): IDR 150,500,000
- Sulawesi, Bangka Belitung, Mentawai Islands, Riau Islands (excluding Anambas Islands): IDR 168,000,000
- Kalimantan (excluding Murung Raya District and Mahakam Ulu District): IDR 177,000,000
- Maluku, North Maluku, Bali, Nusa Tenggara, Anambas Islands, Murung Raya District, Mahakam Ulu District: IDR 181,000,000
- Papua and West Papua: IDR 234,000,000
The same regulation also states that prices in each region will increase by around IDR 6,000,000 in 2024.
Requirements for Purchasing Subsidized Homes
Here are some requirements that must be met to purchase a subsidized home:
Citizenship
Subsidized homes can only be purchased by Indonesian citizens who reside in Indonesia. This program does not apply to foreign nationals (WNA) residing in Indonesia or Indonesian citizens (WNI) residing abroad.
Age
Subsidized homes can only be purchased by individuals who are at least 21 years old or married.
Income
According to the Minister of Public Works and Housing Decision No. 242/KPTS/M/2020, the subsidized housing program is intended for people with a maximum monthly income of IDR 8 million. This income can be either fixed or variable.
Employment and Taxpayer Identification Number (NPWP)
Prospective subsidized home buyers must prove that they have been employed or running a business for at least one year. They must also have a Taxpayer Identification Number (NPWP).
Eased Requirements for Purchasing Subsidized Homes
The very affordable price of subsidized homes is certainly an attractive feature for many people. Especially when the homes are located in strategic locations, like those offered by Ingria Group.
However, according to a survey conducted by rumah.com, many people hope the government will ease the requirements for purchasing subsidized homes. This is mainly in relation to the income cap of IDR 8 million per month.
The request to relax the requirements for purchasing subsidized homes is understandable. The continuously rising home prices have made it increasingly difficult for many people to buy homes, even if their income exceeds IDR 8 million.
If the government reconsiders the requirements for purchasing subsidized homes, it is hoped that the program can help even more people in need.
Subsidized Home Prices Will Increase
Recently, there have been reports that the price of subsidized homes will rise. The price increase for VAT-free subsidized homes is expected to be around 8%. Therefore, people who want to buy a subsidized home should not delay the purchase before prices increase further.
Ingria Group, Trusted Subsidized Housing Developer
Ingria Group is one of the trusted developers of subsidized homes, with housing projects in many strategic locations such as Bekasi, Bandung, Sumedang, Tangerang, and Samarinda. Ingria Group always prioritizes quality, ensuring that more people can own affordable, yet high-quality homes.
People interested in purchasing subsidized homes can visit Ingria Group’s website at https://ingriagroup.com/ and follow their social media pages to find the best home options and offers.
