Indonesia Properti Expo 2022 Aims for USD170,000 Transactions

Sinta, events . 15 Aug 2022
Indonesia Properti Expo

Heaptalk, Jakarta — The Ministry of Public Works and Housing (PUPR) officially opened the Indonesia Properti Expo (IPEX) 2022 at the Cendrawasih Hall, Jakarta Convention Center (JCC), Central Jakarta (13/08). IPEX 2022 hosted by PT Bank Tabungan Negara (BTN) Tbk takes place on 13—21 August 2022 carrying the theme of ‘KPR BTN Merdeka’ means every citizen has the right to obtain decent housing facilitated through the mortgage of BTN.

The Director General of Housing, Iwan Suprijanto, as the representative of the Ministry, expressed the highest appreciation for BTN’s participation that has become a partner as well as the government representative for encouraging access to affordable housing finance for low-income people (MBR). The effort is a form of support to encourage the achievement of the 1 million houses program as well as an accelerator to foster national economic recovery.

Based on the data from the Central Bureau of Statistics (BPS), the property sector grew positively in the first quarter of 2022 by demonstrating the growth of 5.01% YoY. Within the growth rate, housing which is included in real estate or property contributed a positive growth of 3.78%.

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“The property sector has a multiplier effect that can revive 174 other industrial sub-sectors including material or building material factories, transportation, financing institutions such as banks, cooperatives, financial technology, as well as the furniture sector and food trade. The multiplier effect is necessary to accelerate and assist government programs to recover the national economy,” explained Iwan.

The other issue is the high number of backlog or housing shortages. Hence the provision of housing still requires contributions from all stakeholders, not only from the central government or local governments but also from the private sector and banking. To reduce the backlog, the government itself has attempted to launch various policies to increase the achievement of the 1 million houses program. One of which is supporting Indonesia Properti Expo 2022.

The President Director of PT BTN Tbk, Haru Koesmahargyo, uttered the demand for housing continues to exist and the number remains high, as reflected by the gap in demand and the ability to provide housing for the community. He said, “Indonesia Property Expo (IPEX) 2022 is one of the accommodation to answer the needs.”

IPEX 2022 is attended by 11 subsidized developers, 44 non-subsidized developers, and 7 participants from housing support providers and non-associated developers. The projects marketed at this exhibition reached more than 300 housing projects spread throughout Greater Jakarta and several cities such as Bandung and Surabaya. BTN expects to obtain potential mortgage principal permits worth Rp2.5 trillion or nearly USD170,000 (USD1 equals Rp14,738).

Haru said, “For nine days, this exhibition is expected to attract more than 55,000 visitors.” There are numerous enticing programs offered, one of which is attractive interest only 2.22% in the first year. In addition, the exhibition also provides enticing promotion, including free provision, administration, and appraisal fees.

Further, BTN’s house financing distribution is expected to grow more following the government approval of corporate action in the rights issue which is planned to be carried out at the end of 2022. With the right issue, BTN will be able to distribute house financing for around 1.5 million housing units by the end of 2025 which is an increase of almost 8 times from the current.

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