Jakarta – Soaring house prices to the point that lack of financial preparation is the biggest obstacle to purchasing House for millennials in Indonesia.
In addition, problems also arise from the unavailability of houses that are affordable for low-income people (MBR) in urban areas. The cheap houses available for MBR are located farther and farther from the city center.
Sure enough, according to data from the 2021 National Socioeconomic Survey (Susenas), there are around 12.71 million backlogs or gaps between the need for and availability of houses. Of this figure, around 10 million backlogs occur in urban areas.
The trigger for cheap housing is getting farther from the city center
Chief Economist of The Indonesia Economic Intelligence, Sunarsip said, the main problem with the difficulty in providing affordable housing for MBR is the high price of land in urban areas.
As a result, the housing supply program was carried out in suburban areas whose locations were getting farther and farther from the city center in order to pursue cheaper land prices so that the houses built could also be more affordable for the MBR.
“The biggest challenge for the government is actually overcoming the backlog of houses in urban areas because land is expensive, the cost of living is high, so if government subsidy intervention is involved, the subsidies prepared are definitely very high,” he said in the Prospects and Challenges Webinar of Public Housing Financing, Especially for Low-Income Communities. (MBR) virtually, last Tuesday (11/7/2023).
Government Efforts
In order to accelerate the development of public housing, especially for Low-Income Communities (MBR), the government has also issued a series of breakthrough policies in the field of housing finance. First, through the lease first and then buy scheme or Rent to Own.
Through this scheme, the process of submitting a house purchase is carried out by way of an agreement to rent a property with a definite commitment to buy it for a specified period of time.
Second, the Phased Ownership Scheme (Staircasing Ownership), which is a Subsidized KPR with a gradual ownership scheme. In the first stage in the form of rental and mortgages, then in the second stage, pure mortgages.
These two financing innovations are primarily aimed at MBR, especially those in cities where the backlog ratio or gap between housing ownership and availability is higher than MBR in rural areas. Chief Economist of The Indonesia Economic Intelligence, Sunarsip, assessed that this innovation was good enough to provide housing for MBR.
According to data from the 2021 National Socioeconomic Survey (Susenas), there are around 12.71 million backlogs or gaps between needs and availability House. Of this figure, around 10 million backlogs occur in urban areas.
Can Copy Singapore
Singapore is one of the countries that has a fairly good housing ownership program for MBR. The program is through the Housing and Development Board (HDB) or housing and development agencies.
Sunarsip assesses that the Indonesian government can refer to the HDB system in Singapore in procuring affordable housing. In its procurement, it can be through the Agency for the Acceleration of Housing Implementation (BP3), which is currently being formed by the government.
This is because one of the keys to meeting people’s housing needs is managing the stock of houses, especially subsidized houses, so that the stock does not decrease. In order for this to materialize, a management body is needed that acts as the management of MBR housing assets.
The hope is that BP3 will not only act as a supervisor and offtaker, but also act as a provider, manager of asset management for houses purchased through a scheme from HDB. For example, if there is a home owner who wants to sell his house because his economic situation has improved and he needs a bigger house, the occupant may not sell the subsidized house to someone who does not meet the MBR criteria. To make it easier, HDB will be the standby buyer.
With a concept like this, it is easier for residents to make mutations. In addition, the government can maintain the supply of low-cost or subsidized housing.
“There (Singapore) houses purchased with the subsidy scheme cannot be sold to outside recipients. In fact, this house is resold to the Housing and Development Board (HDB) for stock which will later be resold to the new MBR community. So in Indonesia there has not been such a mechanism,” he said in a virtual Webinar on Prospects and Challenges for Public Housing Financing, Especially Low-Income Communities (MBR), Tuesday (11/7/2023).
To fulfill these functions, Sunarsip proposed, the establishment of the BP3 would at the same time integrate the role of Perum Perumnas, which is a Housing BUMN, into BP3.
(dna/dna)
2023-07-11 23:24:05
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