Mortgage loans for home financing are a priority in realizing the dream. The house today has become a necessity for every human being. So the demand from year to year will continue to increase along with changes in population growth figures in a country or region. In an area that has a significant population increase, it will have an impact on the high number of families in the future, which in turn will increase the demand for homes significantly. In fulfilling the need for the house, not everyone can buy a house in cash. So the mortgage products appear in the conventional financial system provided by conventional financial institutions to facilitate msayarakat in buying a home.
Home financing becomes a priority in realizing justice. So that the target market is not just people who meet the criteria of the bank. Not only are capable people who are entitled to get a loan, but also people who can not afford any right to get financing facilities. A housing finance instrument must comply with a contract or contract permitted by Sharia rules. The contracts are Ba'i Bithaman Ajil, Ijarah Muntahia Bittamlik, Istisna wal Istisna, and Musyarakah Mutanaqisah's contract. The entire contract does not contain usury, maysir, and dharar. Four such schemes can be used as an option to develop innovative Sharia financing products in Indonesia.
The four financing schemes have several advantages and disadvantages respectively. Where this difference can be adjusted to the market characteristics and readiness of the issuing institution of Islamic home financing products in overcoming the possible risks. The house today has become a necessity for every human being. So the demand from year to year will continue to increase along with changes in population growth figures in a country or region. This also has implications for housing prices that continue to change in accordance with the many requests for housing. In an area that has a significant population increase, it will have an impact on the high number of families in the future, which in turn will increase the demand for homes significantly.
In the event of a condition in which all the demand for housing is not met, then the price of the house will rise. On the other hand, if the population growth rate of a region decreases, there will be an excess of house availability. This will result in lower house prices. Not only is the population growth rate to be considered, but also the purchasing power of the people in buying a home and economic growth will also affect the movement of house prices.