Jakarta –
The price of land and raw materials for building houses is said to continue to rise. This condition also affects house prices and people’s ability to own housing.
Deputy President Director of PT Bank Tabungan Negara Tbk (BTN) Nixon LP Napitupulu admits that the variables that affect house prices are currently increasing.
Especially for non-subsidized houses. “For non-subsidized houses, the price of land, raw materials and materials is dominant. But actually 30% of land is for the material which is very sensitive,” he said at Menara BTN.
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Nixon explained that indeed for house prices, the government’s policy regarding free VAT for home purchases has also contributed to driving housing payments.
“Honestly, we are grateful for the VAT policy. Because this also boosts the distribution of home loans at banks,” he explained.
He revealed that currently the housing backlog reaches 12.75 million families who do not yet own a house. Then add the lowest mortgage rate per GDP in ASEAN.
According to Nixon, the current mortgage interest rate is relatively lower than the mortgage interest rate in the previous period. However, in the future, there will be a risk of an increase in interest rates given the current economic conditions in the midst of geopolitical tensions.
Previously, Finance Minister Sri Mulyani Indrawati revealed that the current shortage of housing supplies reached 12.75 million. This means that there are still many people queuing up to own a house, coupled with the demographic bonus.
“For those who are married, it means they need a house, but they do not have purchasing power, house prices are high, so they are comfortable living at their in-laws’ house or renting it,” he said in the webinar.
He said, indeed this is not wrong. “If the in-laws have a house too, if they don’t have one, it becomes a problem again. Rolling up generations,” he explained.
Sri Mulyani admitted, in terms of housing availability, currently the cost to build a house and land prices are always increasing, especially in urban areas. However, the double impact caused in the construction of this house is very significant for gross domestic product (GDP).
He also revealed that high interest rates can also be a threat to people who want to buy a house. “To buy a house for 15 years in installments is difficult, the interest rate first, the principal is behind. That’s because with the price of the house and the current interest rate, we have to be careful. because it tends to rise with high inflation,” he said.
Sri Mulyani said that this condition is feared to make it more difficult for people to own a house. “So people will find it increasingly difficult to buy a house,” he explained.
(kil/eds)
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