The Ministry Of State-Owned Enterprises Is Preparing A Housing Credit Scheme For Generation Z, With Installment Payments Starting At 1 Million Rupiah

The Deputy Minister of State-Owned Enterprises (BUMN), Kartika Wirjoatmodjo, announced that the ministry is preparing a financing scheme for housing aimed at young people, featuring affordable monthly installments of IDR 1 million. She expressed hope that this initiative would enhance the aspirations of the youth and assist them in acquiring suitable housing. "We recognize that to engage Generation Z, especially those with limited purchasing power, the installment should be below IDR 2 million. Ideally, it should be under IDR 1 million for areas outside major urban centers," she stated during the 3 Million Houses Program dialogue in Jakarta on Friday, November 29, 2024.

Furthermore, she indicated that other state-owned enterprises would be encouraged to support President Prabowo Subianto's 3 Million Houses initiative. "We are urging companies involved in construction, cement, and others to collaborate with Telkom in providing fiber optic networks, and PLN to ensure direct access to electricity," she added.

Additionally, Tiko, as she is commonly known, mentioned that the Home Ownership Credit (KPR) program, under the Liquidity Financing Facility for Housing (FLPP) scheme, is being developed to extend the loan term up to 30 years. She noted that PT Bank Tabungan Negara (Persero) Tbk, in conjunction with the Ministry of Finance and the Ministry of Public Works, is currently working on and structuring this scheme.

"The term could be long, potentially reaching up to 30 years, starting with very low installments," Tiko remarked. Previously, it was reported that the Ministry of Public Works and Housing (PKP) plans to increase the quota for the distribution of Home Ownership Credits (KPR) under the FLPP scheme to 800,000 units.

Tag: BUMN Home Ownership Credit KPR