Prabowo Promises Homes for Workers with Instalments up to 40 Years

JAKARTA - President Prabowo Subianto has promised a home ownership programme for workers with a long-term instalment scheme of up to 40 years.

“Brothers and sisters, earlier I mentioned 30 percent of income for rent (of the house). Later, we will ensure that you will own that house,” Prabowo said while speaking at the International Labour Day or May Day commemoration event at Monas field, Central Jakarta, on Friday (1/5/2026).

“From the previous 30 percent for rent, we will reduce it; that is to pay instalments for your own house,” he added.

He explained that the instalment tenor will be made flexible according to people’s ability.

The tenor starts from 20 years up to a maximum of 40 years.

“The instalments, if possible, 20 years; if not 20 years, 25 years. If not settled in 25 years, 30 years. If not possible, 35 years, 40 years,” he stated.

According to him, the practice of high interest rates makes it difficult for the people to escape economic pressures.

As a solution, Prabowo said he has instructed state-owned banks to disburse low-interest credit for the people.

“I have already ordered the banks owned by the Republic of Indonesia; soon we will pour credit for the people, maximum 5 percent per year,” he said.