Housing developers seek cheaper prices

Published on September 27, 2013, Manila Standard Today:

By Othel V. Campos

Mass housing developers said Thursday the cost of housing will soon be within the reach of average Filipino families, once the government approves the incentives under the proposed housing roadmap.

The Subdivision and Housing Developers Association Inc. said the roadmap, which will be presented by the Board of Investments, called for lower threshold in availing incentives.

It said this would make housing more affordable to C and D segments and help eliminate the housing deficit by 2030.

Officials of SHDA said it consulted with the BoI and key shelter agencies in crafting the industry roadmap to guide members on increasing housing production.

“Affordability is a key component of our roadmap. On top of government subsidy, banks have become more aggressive and offer lower interest rates. As developers, we have also been pursuing increasing housing production for target segments,” SHDA first vice president Ricky Celis said at the opening of the 22nd SHDA National Developers Convention and General Membership meeting at the Fairmont Hotel in Makati City.

“All the parties involved are doing their part now, so this is the right time to consider how we can keep things rolling,” Celis said.

Industry figures put the national housing backlog at over 3.9 million units, a problem that could increase to 6.5 million by 2030 if the issues were not addressed.