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While the 0% down payment housing plan from the Jakarta Governor-elect has been rejected by many, the President's similar plan starts smoothly.

Petra Hapsari   03 May 2017 10:00

President Joko Widodo has officially started the Rusunami Loft Villes housing project for labours and employers in Jl Bukit Serua, South Tangerang, Banten, last week.

Though it is not the first state-subsidized housing program, this project gained attention because Jokowi promises to only set a 1% down payment fee for those who are interested in buying the properties.

While Jakarta Governor-elect Anies Baswedan's proposal of setting a 0% down payment fee for housing has been countered by many parties, from citizens to financial authorities, Jokowi's plan apparently receives almost no backlash from the public.

The President said that the project is intended to support lower-income workers who have to work in Jakarta but has no fund to own a house.

“In Jakarta, the population is 10 million. During the day, the number of people in Jakarta can reach 13-14 millions. It means that 3 to 4 millions are commuters from outside the city that come to work in Jakarta. They need a place to live and they do not have it," said the executive director of Indonesia Property Watch Ali Tranghanda to detikFinance.

Rusunami Loft Villes will provide 9,000 housing units where 6,000 are subsidized apartment units.

One unit has been set to cost Rp 293 million and the down payment fee will only be 1% of that amount: Rp 2.9 million.

The credit scheme will let buyers pay with only Rp 1.2 million pe month.

However, the offer is only intended for those with less than Rp 7 million income per month. The government also has another housing program for those with less than Rp 4 million income per month, but instead of providing apartments, the government offers actual houses.

So, how does one apply for the cheap apartments mortgage?

According to the official website of Bank Tabungan Negara (BTN) there are some requirements to get this facilities. The person has to:

1. Be an Indonesian and live in Indonesia.

2. Be 21 year old or older or married.

3. Be a couple who does not have a house yet or never gets any subsidy from the government for house ownership.

4. Have income not more than Rp 4 million to get Rumah Sejahtera Tapak and not more than Rp 7 million to get Rumah Sejahtera Susun.

5. Have income with maximum amount which is in accordance with the government regulations.

6. Have worked for at least one year or the business the person has is at least has run for one year.

7. Have NPWP (Tax Identification Number) and annual government’s enforcement of tax return form (SPT PPh Orang Pribadi) based on the applicable law.

8. Sign a statement letter on stamp duty.

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