Flying Property Shares, Apparently There is a Surprise from PEN

Jakarta, CNBC IndonesiaLarge cap property stocks shot in the first trading session today, Friday (18/9/2020). The trigger is there is a budget National Economic Recovery (PEN), which will be placed in housing loans (KPR), both subsidized and non-subsidized.

It was observed that all large and liquid property issuers that took the floor on the Indonesia Stock Exchange (IDX) today traded in the green zone and even the property index managed to fly 0.88%. The increase in property stocks today was led by PT Alam Sutra Realty Tbk (ASRI) with a 12.82% increase to the level of Ro 132 / unit.

Then another property issuer that managed to climb high, namely PT Agung Podomoro Land Tbk (APLN), which rose 6.6% to the level of Rp. 113 / unit.

PEN funds placed in the provision of mortgages will of course be able to revive property loans, which of course has the potential to boost property sales, which have recently been sluggish.

Moreover, PEN funds are not only placed on property mortgages in the subsidized segment, but also in the non-subsidized segment which is usually the main merchandise of property issuers on the IDX.

Previously known, PT Bank Tabungan Negara (Persero) Tbk (BBTN) plans to distribute loans of Rp 15 trillion this month. The credit comes from the placement of government funds amounting to Rp 5 trillion.

Lending from the placement of government funds will be increased to Rp 30 trillion in December.

BTN President Director Pahala N Mansury detailed, for this September his party is targeting disbursement of subsidized KPR of Rp 5.2 trillion. Then, at the end of the year, the disbursed subsidized KPR will be Rp. 8.2 trillion.

“Where in September, from Rp. 15 trillion to Rp. 5.26 trillion, we hope that we can distribute the subsidized KPR sector. In the end, until the end of December it will be Rp. 8.2 trillion to the subsidized sector or subsidized KPR,” he said. in a meeting with Commission XI quoted from Seconds, Thursday (17/9/2020).

Meanwhile, for non-subsidized KPR, the target is Rp. 6 trillion in December 2020. He said this segment is slowly improving but not as good as subsidized KPR.

“Meanwhile, Rp. 6 trillion, if you look at it gradually, the distribution of KPR for the non-subsidized segment is getting better, but it is currently not as good as the subsidy segment,” he said.


[Gambas:Video CNBC]



Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.