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VAT Incentives & 0% Down Payment will Boost Home Sales

The government has provided various stimuli to encourage interest in housing purchase. For example these two, VAT (Value Added Tax) incentives deductions and 0% DP (Down Payment). Both of these stimuli are expected to boost home sales, which had severe challenges at the beginning of the pandemic.

VAT incentives are officially implemented by the government from March to August 2021. With this tax cut scheme, every new home buyer will get a 100% tax discount of a landed house or flat that has a maximum price of IDR 2 billion. Then 50% for purchases worth IDR 2 billion - 5 billion.

Meanwhile, DP 0% is a 100% Loan to Value (LTV) and Financing to Value (FTV) easing scheme, this was provided by Bank Indonesia (BI) to stimulate property credit. By this easing, the bank will bear 100 percent of the credit application for property purchases and the prospective debtor doesn’t need to pay a down payment, aka 0% down payment. This program is active from March 1 until August 31, 2021.

Savills Indonesia's Head of Research & Consultancy, Anton Sitorus said that VAT incentives and 0% DP were a good move to encourage Indonesia's property business. Even though there was a limit on the incentive period, Anton assessed that this would bring positive prospects amidst economic recovery conditions.

"With this new policy, I predict home sales will increase by 20-40 percent," said Anton.

Anton also said that these two policies could be put to good use because prospective house buyers would get a low DP and VAT discount of up to 100 percent.

"DP and taxes problems have long been an obstacle for someone to buy a house, so with this incentive, people can immediately buy their dream house," said Anton.

Well, for you who are currently planning to buy a house, PIK 2 housing can be a good option. This housing is included in those two government programs because the average price is still below IDR 2 billion.

Located in a well-known independent city, Pantai Indah Kapuk. This location is very strategic because it is easily accessible by various vehicles. For example, on private vehicles via inner city tolls, airport tolls to JORR Toll.

This housing has great demand. In the development process, Agung Sedayu Group as a developer took the "green" concept. You will see various green areas at each point of the housing, like shady trees and parks. PIK 2 Housing is also flood-free because it already uses a polder system.

Other than that, you will find various facilities that create a comfortable life at PIK 2 Housing. Some of them are a jogging track, gym, playground, fresh market, swimming pool, waterfront, Transit Adjacent Development (TAD), Green Belt, and Club House.

Seeing the complete facilities, the large selection of units, affordable prices and the easy transaction policy from the government, Perumahan PIK 2 is the best project for you to find your dream house.