Manila, Philippines – At the 2nd Socialized Housing Summit held at Ateneo de Manila University, Senator Risa Hontiveros delivered a compelling speech, outlining the dire need for innovative and inclusive solutions to the Philippines’ housing crisis. Addressing a gathering of developers, microfinance institutions, academes and housing advocates, Senator Hontiveros emphasized the dream of every Filipino to own a home, a dream currently threatened by the soaring costs of living.
In her address, the senator praised the collaborative efforts embodied in the Pambansang Pabahay para sa Pamilyang Pilipino program (4PH), designed to offer affordable homes to low-income families. This initiative represents a partnership between the government, banks, and private companies, aiming to construct homes more sustainably and inclusively.
Highlighting the attractiveness of 4PH for private developers, Senator Hontiveros detailed the program’s innovative approach, including financial support from Pag-IBIG Fund, guaranteed buyers, swift payments, and legal incentives. These mechanisms are intended to stimulate the construction of affordable housing with minimal capital exposure for the private sector.
However, Senator Hontiveros did not shy away from addressing the challenges facing the 4PH program, including concerns over the equitable distribution of subsidies and the need for the program to genuinely reach the most needy. She called for a greater focus on marginalized communities, who are often bypassed or threatened by such housing initiatives.
The senator’s speech also underscored the potential for microfinance institutions and real estate developers to cooperate in housing construction and financing, provided a favorable and enabling environment is created. She cited a survey by the Microfinance Association of the Philippines, which found a high demand among clients for upgrading their homes through microfinance loans, revealing an untapped Php80 billion housing finance opportunity.
Senator Hontiveros championed the cause of incremental housing and low-cost, self-built housing as legitimate modes of compliance with the balanced housing law. She called on Secretary Acuzar and industry partners to support innovative materials and building techniques to ensure homes are both resilient and affordable.
The senator’s vision extends beyond financial and material aspects; it encompasses creating innovative business strategies and collaborations that make project models easily replicable. She stressed the importance of community, technology, and partnerships with government and industry to address the housing needs of Filipinos.
Senator Hontiveros’s speech at the 2nd Socialized Housing Summit is a call to action for all stakeholders to work together towards creating sustainable and inclusive housing solutions. By leveraging innovative financing, technology, and partnerships, there is hope for addressing the Philippines’ housing crisis, ensuring that the dream of home ownership becomes a reality for every Filipino.
As the summit continues, the insights shared by Senator Hontiveros serve as a catalyst for further discussions and initiatives aimed at overcoming the challenges in the housing sector. Her advocacy for equitable, innovative, and community-centered solutions highlights the urgent need for a collective effort in bridging the housing gap in the Philippines.
