Indonesia’s government has approved a new subsidized mortgage scheme offering homeowners loans with terms extending up to 40 years. Housing and Settlement Areas Minister Maruarar Sirait announced the program aims to increase homeownership, particularly for lower and middle-income citizens. The scheme provides subsidized interest rates, making monthly payments more manageable over the extended loan duration. Details regarding eligibility criteria and specific interest rates are yet to be fully disclosed, but the initiative is expected to stimulate the property market. Officials anticipate the program will address a significant housing backlog and boost economic growth within the construction sector. The government views affordable housing as a key component of its broader economic development strategy. Further regulations will be issued to govern the implementation of the long-term mortgage plan.