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Once again, the expert said, now is the time to buy all page properties

JAKARTA, KOMPAS.com – The government bears Value Added Tax (VAT) on landed houses and flats (flats) for six months, from March to August 2021.

Properties for which all VAT is borne by the government (DTP) are landed houses and flat with a maximum selling price of Rp. 2 billion.

Meanwhile, for houses with prices above Rp. 2 billion to a maximum of Rp. 5 billion, the VAT DTP payable on the handover of a landed house or flat is only 50 percent.

Prior to the implementation of VAT DTP by the Government, Bank Indonesia (BI) had also implemented relaxation loan to value/financing to value (LTV / FTV) for property financing loans, a maximum of 100 percent starting March 1 ago.

This LTV / FTV relaxation will end on December 31, 2021 and is re-evaluated once a year.

With this relaxation, potential customers can buy property without paying a down payment down payment (DP) 0 percent.

Also read: Good News, Houses with a Maximum Price of IDR 2 Billion VAT Free

All property financing purchased by consumers using the home and apartment ownership credit facility (KPR / KPA) is borne by the bank.

This LTV / FTV easing applies to all types of property including landed houses, flat, shop houses (ruko) and office houses or home offices.

Colliers International Indonesia Senior Associate Director Ferry Salanto is of the opinion that two policies are the right time to invest in property.

“If this is for long-term investment and investors do not expect immediate or imminent returns, this is actually the right time,” Ferry said in a report received. Kompas.com, Tuesday (16/3/2021).

Apart from investors, this moment is also right for end-user (end user) with sufficient purchasing power.

Even so, there are many procedures that consumers must pay attention to carefully. Because, this purchase is made through KPR / KPA.

For the LTV / FTV relaxation policy, the risk for banks will increase and they must be careful in disbursing mortgages with a 0 percent down payment.

Indeed, in the beginning, buyers will avoid having to provide a jumbo budget. However, their burden will increase to pay monthly installments.

Also read: March 1, 2021, Buy Home DP 0 Percent Officially Applies

Another challenge faced by banks is having to adjust their loan interest rates so that they are more competitive and not far from the BI benchmark interest rate.

According to Ferry, both the relaxation of the 0 percent down payment and the exemption of VAT for certain property products are good things.

However, this policy must be followed by providing attractive loan interest rates.

This aims to create a holistic policy with the hope of being able to accelerate more property product transactions.

He is also optimistic that 2021 will be a better year for the property sector.

“We also have a more positive outlook especially when vaccination is successful
implemented later will have an impact in encouraging more business activities, “said Ferry.


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