Government eyes reducing housing backlog to five million in 2024

 

 

Jakarta The government has set a target to reduce Indonesia’s housing backlog gradually to five million by 2024, according to Vice President Ma’ruf Amin.

“The government has targeted to reduce the housing backlog to five million by 2024. To achieve the target, we need Rp780 trillion of the budget sourced from the state budget and private funding,” Amin stated during an online National Meeting VI of the Indonesian Settlement and Housing Developers Association (Apersi) here on Tuesday.

The vice president pointed to the housing demand still being higher than its supply owing to the population growth.

“As the population continues to grow, the demand for housing has also increased. Currently, the home ownership demand is expected to reach 11.4 million units,” he remarked.

The government has adopted some measures to address the issue, including by providing house-ownership funding aid, licensing reform, and fiscal incentive, Amin pointed out.

“The shortfalls in housing demand as compared to its supply or backlog has continued to increase every year. This is a challenge for us to address,” he affirmed.

Amin asserted that the government will require the support of all stakeholders, including the private sector and developers under the Apersi, to achieve the target to reduce the housing backlog.

Based on the Central Statistics Agency (BPS) data in 2019, the number of families in Indonesia owning a house had reached 80.07 percent, while the rest lived in rental houses, stayed with relatives, or led a nomadic existence.

 

 

 

Source: Antara News

 

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