Jakarta, IO – The government has earmarked up to Rp3.7 trillion for housing incentives for fiscal year 2023 and 2024. There are three types of incentive prepared, namely the commercial housing sector, houses for low-income people, and houses for poor people, announced the Public Works and Housing (PUPR) Ministry, per CNBC Indonesia, Fri (1/12).
Funding support for the commercial housing sector is in the form of Value Added Tax (VAT) discount for houses with a selling price of up to Rp 5 billion and valid until December 2024 (100 percent from November 2023 to June 2024 and 50 percent afterward).
Next, support for the Low Income Community housing sector in the form of provision of stamp duty exemption for 14 months worth Rp4 million per house. The ministry said that this assistance had been provided to 62,000 housing units during the November-December 2023 period. The target for 2024 is 220,000 units.
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Meanwhile, support for housing for the poor is provided by increasing the Integrated Prosperous Home Assistance (RST) target by 1,800 homes during in November and December, worth Rp20 million per house.
“This aims to support the national economic growth during the period of global downturn,” said the Finance Ministry. (bp)