The Housing Financing Policy and Its Impacts on Low-Income Communities and Indonesian Economy

Widyastutik Widyastutik; Iwan Hermawan; Syarifah Amaliah; Yenni Nur’aini; Kurniawan Khristianto

doi:10.29313/mimbar.v0i0.9663

The Housing Financing Policy and Its Impacts on Low-Income Communities and Indonesian Economy

Widyastutik Widyastutik, Iwan Hermawan, Syarifah Amaliah, Yenni Nur’aini, Kurniawan Khristianto

Abstract

The housing financing policy or the Liquidity Facility of Housing Financing (FLPP) aims to help low-income communities (MBR) access affordable and livable housing. Unfortunately, MBR's housing backlog is still high, affecting their productivity. The housing financing policy also leverages the changes in other sectors' activities, which can increase or contract economic performance. This study aims to analyze the impact of housing financing policies on MBR's welfare and the Indonesian economy's performance. The Recursive-Dynamic Computable General Equilibrium (RDCGE) and the Econometric Model capture economic resources reallocation at MBR and macroeconomic levels due to housing financing policies. The study results indicate that the FLPP can potentially increase the growth and development of housing and improve community welfare. In addition, the FLPP positively impacts economic performance, although it will make specific sectors worse off. The policy recommendations are related to the simultaneous improvement of the demand and supply sides, as well as improvement in housing budget

Keywords

FLPP; CGE; welfare; macroeconomy

Full Text:

PDF

References

Ayu, I., & Elena, M. (2019). Kenapa bank lebih memilih FLPP dibanding KPR nonsubsidi? https://finansial.bisnis.com/read/20191023/90/1162134/kenapa-bank-lebih-memilih-flpp-dibanding-kpr-nonsubsidi.

Bank Indonesia. (2021). Survei harga properti residensial di pasar primer-triwulan III 2021. Bank Indonesia.

Bhellar, M. G., Kalwar, S., Memon, I. A., & Das, G. (2019). Housing need and supply gap affects housing affordability. Engineering Science and Technology International Research Journal, 3(4), 116–120. https://doi.org/https://www.researchgate.net/publication/343239455.

BPS. (2021). Tujuan pembangunan berkelanjutan. https://www.bps.go.id/indikator/indikator/view_data/0000/data/1242/sdgs_11/1.

Cunningham, L. E. (2003). A structural analysis of housing subsidy delivery systems: Public housing authorities’ part in solving the housing crisis. Source: Journal of Affordable Housing & Community Development Law, 13(1), 95–121. https://doi.org/https://www.jstor.org/stable/25782673.

Doling, J., Vandenberg, P., & Tolentino, J. (2013). Housing and housing finance-A review of the links to economic development and poverty reduction (No. 362; ADB Economics Working Paper Series). https://www.adb.org/sites/default/files/publication/30348/ewp-362.pdf.

Enterprise Community Partners. (2014). Impact of affordable housing on families and communities: A review of the evidence base. https://www.communitycommons.org/entities/8147fc85-11af-4dae-8d7f-b01d47c292be.

Howenstine, E. J. (1986). The consumer housing subsidy approach versus producer housing subsidies, International experience. Cities, 3(1), 24–40. https://doi.org/https://doi.org/10.1016/0264-2751(86)90004-1.

Indarto, K. D., & Rahayu, S. (2015). Dampak pembangunan perumahan terhadap kondisi lingkungan, sosial dan ekonomi masyarakat sekitar di Kelurahan Sambiroto, Kecamatan Tembalang. Teknik PWK, 4(3), 428–439. https://doi.org/https://doi.org/10.14710/tpwk.2015.9119.

Jawapos.com. (2021). KPR BTN, Backlog perumahan dan pemulihan ekonomi di tengah pandemi. https://www.jawapos.com/ekonomi/properti/18/02/2021/kpr-btn-backlog-perumahan-dan-pemulihan-ekonomi-di-tengah-pandemi/.

Kalesaran, R. C. E., Mandagi, R. J. M., & Waney, E. (2013). Analisa faktor-Faktor yang mempengaruhi keputusan konsumen dalam pemilihan lokasi perumahan di Kota Manado. Jurnal Ilmiah Media Engineering, 3(3), 170–184. https://ejournal.unsrat.ac.id/index.php/jime/article/view/4278.

KemenPUPR. (2020). Rencana strategis Kementerian Pekerjaan Umum dan Perumahan Rakyat tahun 2020-2024. Kementerian Pekerjaan Umum dan Perumahan Rakyat. https://pu.go.id/assets/media/1927846278Buku Renstra Kementerian PUPR 2020-2024.pdf.

Mone, A. (2021). Peran asosiasi pengembang dalam pembangunan bidang perumahan dan permukiman melalui skema FLPP (tidak dipublikasikan). FGD Kajian Dampak Sosial Ekonomi FLPP, 29 Juli 2021 diselenggarakan oleh ITAPS, IPB.

Ong, P. (1998). Subsidized housing and work among welfare recipients. Housing Policy Debate, 9(4), 775–794. https://doi.org/10.1080/10511482.1998.9521318.

Petriella, Y. (2020a). Basuki targetkan backlog rumah berkurang 50 persen pada 2024. https://ekonomi.bisnis.com/read/20201215/47/1331426/basuki-targetkan-backlog-rumah-berkurang-50-persen-pada-2024.

Petriella, Y. (2020b). Kontribusi properti ke PDB masih rendah, Ini pandangan pengembang. https://ekonomi.bisnis.com/read/20200923/47/1295750/kontribusi-properti-ke-pdb-masih-rendah-ini-pandangan-pengembang.

PPDPP, & FEM IPB. (2017). Kajian ekonomi dan keuangan pengelolaan dana perumahan (Laporan tidak dipublikasikan). PPDPP dan FEM IPB.

Pulungan, A. M. (2021). Efektivitas kebijakan Fasilitas Likuiditas Pembiayaan Perumahan (FLPP) di Indonesia (tidak dipublikasikan). FGD Kajian Dampak Sosial Ekonomi FLPP, 29 Juli 2021 diselenggarakan oleh ITAPS, IPB.

Rachmahyanti, S. (2021). Pertumbuhan sektor perumahan diprediksi serap tenaga kerja hingga 4,34 juta orang. https://www.idxchannel.com/economics/pertumbuhan-sektor-perumahan-diprediksi-serap-tenaga-kerja-hingga-434-juta-orang.

Samad, T., Hoang, H. T., Brhane, M., Mcvitty, J. E., Nguyen, H. M., Harrison, D. H., Nohn, M., Hassler, O., Payne, G. K., Huynh, D., Dang, V. H., Nguyen, T. T., La, H. A., Bui, K. V., & Tran, T. N. (2015). Vietnam-affordable housing: A way forward. In World Bank Group (Issue 2). World Bank Group. https://doi.org/10.1162/DAED_a_01797

Serlin, M. A., & Umilia, E. (2013). Faktor-faktor yang mempengaruhi masyarakat dalam memilih lokasi hunian peri urban Surabaya di Sidoarjo. Jurnal Teknik Pomits, 2(2), 143–148. https://ejurnal.its.ac.id/index.php/teknik/article/view/4328.

Setiawan, K. B. (2021). Dukungan Bank BTN dalam penyaluran KPR FLPP bagi MBR (tidak dipublikasikan). FGD Kajian Dampak Sosial Ekonomi FLPP, 29 Juli 2021 diselenggarakan oleh ITAPS, IPB.

Susanto, V. Y. (2021). Hingga 2020, Realisasi program sejuta rumah mencapai 965.000 unit. https://industri.kontan.co.id/news/hingga-2020-realisasi-program-sejuta-rumah-mencapai-965000-unit.

Turner, B., & Whitehead, C. M. E. (2002). Reducing housing subsidy: Swedish housing policy in an international context. Urban Studies, 39(2), 201–217. https://doi.org/10.1080/0042098012010292.

Wittwer, G. (1999). WAYANG: A General Equilibrium Model adapted for the Indonesian economy. In Centre for International Economic Studies, University of Adelaide (ACIAR Project No. 9449). https://www.researchgate.net/publication/2592315.

Yoshino, N., & Helble, M. (2016). The housing challenge in emerging Asia: Options and solutions. Asian Development Bank Institute.

Yoshino, N., Helble, M., & Aizawa, T. (2016). A simple model of housing policies. In N. Yoshino & M. Helble (Eds.), The housing challenge in emerging Asia: Options and solutions (pp. 17–61). Asian Development Bank Institute.

DOI: https://doi.org/10.29313/mimbar.v0i0.9663

Refbacks

There are currently no refbacks.

MIMBAR : Jurnal Sosial dan Pembangunan is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.