Issue

Vol. 13 No. 1 (2026): June

Date Log

Submitted
18 December 2025
Accepted
29 June 2026
Published
29 June 2026

Copyright (c) 2026 Subagio Subagio, Iskandar Iskandar, Heru Akhmadi, Dani Sugiri, Edy Nasrudin, Didit Hidayat, Arbyanto Baehaqqi Sohan, Cristian RP Sihaloho, Evan Himawan (Author)

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Evaluation of the Effectiveness of Government Investment in the Housing Financing Liquidity Facility Program in Indonesia

https://doi.org/10.24252/minds.v13i1.63764
Subagio Subagio
Politeknik Keuangan Negera STAN, Indonesia
Iskandar Iskandar
Politeknik Keuangan Negera STAN, Indonesia
Heru Akhmadi
Politeknik Keuangan Negera STAN, Indonesia
Dani Sugiri
Politeknik Keuangan Negera STAN, Indonesia
Edy Nasrudin
Politeknik Keuangan Negera STAN, Indonesia
Didit Hidayat
Politeknik Keuangan Negera STAN, Indonesia
Arbyanto Baehaqqi Sohan
Politeknik Keuangan Negera STAN, Indonesia
Cristian RP Sihaloho
Politeknik Keuangan Negera STAN, Indonesia
Evan Himawan
Politeknik Keuangan Negera STAN, Indonesia

Corresponding Author(s) : Subagio Subagio

[email protected]

Jurnal Minds: Manajemen Ide dan Inspirasi, Vol. 13 No. 1 (2026): June

Abstract

This study addresses a gap in FLPP scholarship by shifting evaluation from fiscal absorption and housing-unit realization toward the public management of subsidized housing investment. Using the CIPP framework as an analytical lens, the study examines policy coherence, resource adequacy, implementation control, and socio-economic outcomes. A qualitative case study was conducted through 28 in-depth interviews with officials from the Ministry of Housing and Settlement Areas, BP Tapera, KPPN Investasi, implementing banks, developers, and low-income beneficiaries across seven purposively selected provinces, supported by document analysis and secondary-data triangulation. The findings show that FLPP contributes to backlog reduction, regional economic multipliers, asset formation for low-income households, and social stability. Its effectiveness, however, is constrained by regulatory fragmentation, quota ambiguity, exclusionary screening mechanisms, and weak infrastructure coordination. The study contributes by positioning FLPP effectiveness as a question of administrative capacity, implementation governance, interagency coordination, accountability, and equitable service delivery.

Keywords

Public Investment Management Subsidized Housing Governance Implementation Capacity Interagency Coordination Equitable Service Delivery
Subagio, S., Iskandar, I., Akhmadi, H., Sugiri, D., Nasrudin, E., Hidayat, D., … Himawan, E. (2026). Evaluation of the Effectiveness of Government Investment in the Housing Financing Liquidity Facility Program in Indonesia. Jurnal Minds: Manajemen Ide Dan Inspirasi, 13(1), 375–386. https://doi.org/10.24252/minds.v13i1.63764
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