Government Approves Longer Subsidized Mortgage Tenor

The Ministry of Housing and Settlement (PKP) Muarar Sirait (Ara) stated that the subsidized mortgage scheme (KPR) with 40 years tenor has been approved and implemented as decided in the Limited Meeting of Public House Funding Agency Committee (Tapera). In addition to longer mortgage tenor, the interest rate for subsidized landed house was set at 5% and 6% for subsidized vertical housing. However, this mortgage scheme is optional and depends on individual preference.