Indonesia Has Delivered 160,070 Subsidised Homes Against a 350,000 Target for 2026
Indonesia's subsidised housing programme has reached 160,070 homes, or 45.73% of its 350,000 target for 2026, with three months of the year left.
Indonesia's subsidised housing programme had delivered 160,070 homes by late September 2026 against an annual target of 350,000, a realisation rate of 45.73% with three months of the year remaining. The Ministry of Housing and Settlement Areas published the figures on 28 September 2026 in a statement calling for delivery to be accelerated. Of the homes completed, 17 were vertical units.
The ministry is pressing for acceleration, not reporting success
The statement is framed as a push rather than a progress report. Heru Pudyo Nugroho, commissioner of BP Tapera, set out the figures alongside Sri Haryati, director general for urban housing at the ministry, and both are quoted in the context of speeding up delivery over the remaining quarter. That framing tells a reader more about how the ministry itself reads 45.73% than any outside commentary could.
Almost none of the delivered stock is vertical
Seventeen of the 160,070 homes delivered were vertical units. The rest were landed housing. The distinction is not cosmetic, because vertical housing is the form that can place subsidised units inside dense urban areas, where land costs put landed housing out of reach. On this year's mix the programme is adding almost no subsidised stock in that form, which shapes where the new supply sits relative to jobs and transport.
Identified demand runs ahead of identified supply
The ministry also published two figures that sit awkwardly beside each other: potential demand of 48,679 units and potential supply of 28,165 units. Alongside them it put about 60,000 units of potential ownership-transfer mortgages, a channel that moves an existing subsidised home and its loan to a new owner rather than adding a new house to the stock. Those three numbers describe the shape of the remaining quarter, with more identified buyers than identified houses and a secondary channel large enough to matter.
What our own Indonesian data can and cannot show
Indonesia is one of the markets where our own table carries no price. No Indonesian publisher issues a national average price per square metre. Bank Indonesia and the large property portals release index values and percentage changes, never a price level, and we do not estimate one. The same holds for rent, so there is no yield for Indonesia either, and the market page says so rather than showing a silent gap.
What the row does carry still bears on a subsidy programme. Our annual price change for Indonesia is 0.69%, taken from the central bank's residential property price index, which tracks developer-sold new homes across sixteen cities. National prices are close to flat on that measure, so the affordability pressure the programme addresses is not coming from a price surge this year. Our bubble risk score for Indonesia is 73, in the elevated band.
For a foreign buyer the structural facts weigh more than either number. Indonesia offers no full freehold to foreigners, only right of use or leasehold. Round-trip transaction costs run at 11.8%. The rental tax rate for a non-resident without a permanent establishment is 20%, falling to 10% for owners who cross the 183-day residence threshold, which is common among Bali owners.
Sources: Ministry of Housing and Settlement Areas of Indonesia, Kementerian PKP Dorong Percepatan Realisasi Rumah Subsidi Tahun 2026, 28 September 2026 https://pkp.go.id/berita/detail/kementerian-pkp-dorong-percepatan-realisasi-rumah-subsidi-tahun-2026