REI Welcome to the LTV Relaxation Policy

By : Anisa Triyuli And Aldi Firhand A | Tuesday, July 03 2018 - 21:45 IWST

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Residence Illustration

INDUSTRY.co.id - Solo - Real Estate Indonesia (REI) Central Java welcomes the release of the policy on relaxation of "loan to value" (LTV) for home purchase as it will certainly provide fresh air for the growth of the property business.

"Hopefully with this policy will be better, although indeed in Central Java there is not a correlation," said Chairman of REI Central Java MR Prijanto in Solo, Monday (2/7/2018)

He said the purchase of houses in Central Java is mostly done by consumers who really want to use the house as a place to live.

According to him, it is different from other big cities such as Jakarta which most of its customers are investors.

"If in Jakarta, this kind of policy will be very influential," he said.

Prijanto said it was different from that in Central Java where people would buy the house either with or without a down payment.

"For example with financial limitations, he will take the house with a low down payment," he said.

Meanwhile, Bank Indonesia (BI) said the LTV relaxation will have a positive impact for the growth of the property sector in one of Soloraya's homeland areas.

"This policy will certainly provide a positive stimulus for housing growth in Soloraya," said the Head of the BI Office of the Surakarta Representative, Bandoe Widiarto.

He said one of the perceived impacts of the property sector would be to contribute greatly to driving the economy in Soloraya.

"The hope of lending to the property sector will continue to increase," he said. (Ant)

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