BP Tapera discusses 40-year mortgage tenors for affordable housing

The Indonesian Public Housing Savings Management Agency (BP Tapera) is discussing a new housing finance scheme that extends mortgage (KPR) tenors up to 40 years. This initiative aims to increase access to affordable housing for low-income communities by reducing monthly installment amounts.

BP Tapera Commissioner Heru Pudyo Nugroho stated that the proposed single scheme would cover both landed houses and public apartments. The plan includes a 5 percent interest rate for landed houses and a 6 percent rate for public apartments, utilizing a 75:25 funding composition.

PT Bank Tabungan Negara (BTN) is prepared to implement the program, with President Director Nixon L. P. Napitupulu specifying that the 40-year tenor will be reserved exclusively for first-time homebuyers who do not currently own property in their own name. BTN is currently awaiting technical regulations from BP Tapera to finalize the implementation of the program.