{"id":23441,"date":"2023-08-10T10:00:00","date_gmt":"2023-08-10T02:00:00","guid":{"rendered":"http:\/\/sedpi.com\/en\/?p=23441"},"modified":"2023-08-10T01:05:40","modified_gmt":"2023-08-09T17:05:40","slug":"understanding-the-housing-crisis-in-the-philippines","status":"publish","type":"post","link":"https:\/\/sedpi.com\/en\/understanding-the-housing-crisis-in-the-philippines\/","title":{"rendered":"Understanding the housing crisis in the Philippines"},"content":{"rendered":"\n
Housing in the Philippines is a topic that doesn’t just hit close to home \u2013 it IS home. Sadly, it’s a topic also rife with serious issues. As of 2018, there were over 6 million units of housing backlog in our country, a staggering statistic stemming from the twin demons of unaffordable housing and inadequate access to housing funds.
\u00a0
Housing deficit crisis<\/strong>
\u00a0
To better comprehend the gravity of the situation, it\u2019s important to first understand what “socialized housing” means. These are homes priced at a maximum of PhP580,000, an attempt to accommodate those of us who may not have much leeway in our budgets.
\u00a0
But here’s the rub: data from the HLURB, HUDCC, and Center for Research and Communication paint a bleak picture. The demand for housing in the socialized and economic segments outstrips supply, resulting in deficits of over 663,283 and a staggering 1,962,077 units, respectively. The story isn\u2019t much better in the low-cost segment, with a deficit of 462,160. the housing crisis in the Philippines<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Market segment<\/strong><\/td>Housing demand<\/strong><\/td>Housing supply<\/strong><\/td>Surplus (Deficit)<\/strong><\/td><\/tr>
Socialized<\/td>1,143,048<\/td>479,765<\/td>(663,283)<\/td><\/tr>
Economic<\/td>2,503,990<\/td>541,913<\/td>(1,962,077)<\/td><\/tr>
Low-cost<\/td>704,406<\/td>242,246<\/td>(462,160)<\/td><\/tr>
Mid-cost<\/td>72,592<\/td>322,995<\/td>250,403<\/td><\/tr>
High-cost<\/td>18,235<\/td>242,246<\/td>224,011<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Why the discrepancy? Simply put, it\u2019s business. Developers are more attracted to the mid and high-end market segments, where profits are more lucrative. Low-cost and socialized housing come with thinner margins, making the recovery of costs for essential infrastructure challenging.
\u00a0
Beyond construction: Comprehensive solutions to the housing crisis<\/strong>
\u00a0
Coming to terms with the scale of our housing problem can be daunting, to say the least. However, as a social development worker who has seen these challenges unfold over the past 20 years, I believe that seeking market-based solutions alone won’t cut it. The scale of the problem is so vast that it calls for concerted, strategic efforts from both public and private sectors.
\u00a0
The good news? The government has already taken steps towards bridging the housing gap. With a target of constructing one million new houses every year from 2022 to 2028, the journey towards providing homes for every Filipino family has already begun.
\u00a0
However, this ambition should be complemented with strategic initiatives that go beyond just construction of houses. Government subsidies should be extended towards building essential infrastructure for socialized, economic and low-cost housing, such as roads, drainage systems, and more. This not only aids in the development of the housing units but also ensures that these communities are livable and sustainable in the long run.
\u00a0
Furthermore, incentives should be extended to developers and other market players who are willing to venture into the socialized and low-cost housing market. These incentives could be in the form of tax breaks and less stringent document requirements for subdivision development, encouraging more participation in these crucial market segments.
\u00a0
Lastly, financing subsidies should be extended to first-time homebuyers. For instance, Pag-IBIG has a 3% interest rate for socialized housing. Banks and other financial institutions could also extend this same rate, with the balance compared to the prevailing market rate subsidized by the government. This financial assistance could be the key to unlocking the doors of homeownership for many Filipinos.
\u00a0
Turning dream into reality: A call for coordinated effort<\/strong>
\u00a0
The road to providing homes for every Filipino family is a long one, and fraught with many challenges. But with coordinated efforts from the government, civil society, private sector, and each one of us, we can turn this dream into a reality. \u00a0It’s not just about owning a house, but about building a home, a community, and ultimately, a nation.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Housing in the Philippines is a topic that doesn’t just hit close to home \u2013 it IS home. Sadly, it’s a topic also rife with serious issues. As of 2018, there were over 6 million units of housing backlog in our country, a staggering statistic stemming from the twin demons of unaffordable housing and inadequate […]<\/p>\n","protected":false},"author":3,"featured_media":23443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[79,3],"tags":[107,106,105,95,10],"class_list":["post-23441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-social-entrepreneurship","tag-filipino-dream","tag-housing","tag-housing-crisis","tag-learning-wealth-2","tag-sedpi"],"yoast_head":"\nUnderstanding the housing crisis in the Philippines - Social Enterprise Development Partnerships, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sedpi.com\/en\/understanding-the-housing-crisis-in-the-philippines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding the housing crisis in the Philippines - Social Enterprise Development Partnerships, Inc.\" \/>\n<meta property=\"og:description\" content=\"Housing in the Philippines is a topic that doesn’t just hit close to home \u2013 it IS home. 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Emphasizing the commitment of Senator Risa Hontiveros to champion housing issues in her legislative agenda, Rapisura\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Summit-Concludes-with-Strategic-Blueprint-for-Housing-Crisis-Resolution.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Summit-Concludes-with-Strategic-Blueprint-for-Housing-Crisis-Resolution.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Summit-Concludes-with-Strategic-Blueprint-for-Housing-Crisis-Resolution.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Summit-Concludes-with-Strategic-Blueprint-for-Housing-Crisis-Resolution.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Summit-Concludes-with-Strategic-Blueprint-for-Housing-Crisis-Resolution.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":37298,"url":"https:\/\/sedpi.com\/en\/addressing-the-housing-affordability-crisis-insights-from-dr-marife-m-ballesteros-at-the-2nd-socialized-housing-summit\/","url_meta":{"origin":23441,"position":1},"title":"Addressing the Housing Affordability Crisis: Insights from Dr. Marife M. Ballesteros at the 2nd Socialized Housing Summit","author":"Emilenn Kate Sacdalan-Pate\u00f1o","date":"March 25, 2024","format":false,"excerpt":"In an enlightening presentation at the 2nd Socialized Housing Summit, Dr. Marife M. Ballesteros of the Philippine Institute for Development Studies (PIDS) delved into the pressing issue of housing affordability in the Philippines. Her analysis shed light on the multifaceted challenges of providing adequate housing for all income groups, particularly\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Addressing-the-Housing-Affordability-Crisis-Insights-from-Dr.-Marife-M.-Ballesteros-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Addressing-the-Housing-Affordability-Crisis-Insights-from-Dr.-Marife-M.-Ballesteros-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Addressing-the-Housing-Affordability-Crisis-Insights-from-Dr.-Marife-M.-Ballesteros-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Addressing-the-Housing-Affordability-Crisis-Insights-from-Dr.-Marife-M.-Ballesteros-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Addressing-the-Housing-Affordability-Crisis-Insights-from-Dr.-Marife-M.-Ballesteros-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":36898,"url":"https:\/\/sedpi.com\/en\/senator-risa-hontiveros-advocates-for-innovative-social-housing-solutions-at-the-2nd-socialized-housing-summit\/","url_meta":{"origin":23441,"position":2},"title":"Senator Risa Hontiveros Advocates for Innovative Social Housing Solutions at the 2nd Socialized Housing Summit","author":"Mariel Vincent Rapisura","date":"March 18, 2024","format":false,"excerpt":"Manila, Philippines \u2013 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\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/431783426_756604396439631_3237166754210379699_n.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/431783426_756604396439631_3237166754210379699_n.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/431783426_756604396439631_3237166754210379699_n.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/431783426_756604396439631_3237166754210379699_n.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/431783426_756604396439631_3237166754210379699_n.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":37302,"url":"https:\/\/sedpi.com\/en\/asa-philippines-foundation-showcases-impactful-home-financing-solutions-at-the-2nd-socialized-housing-summit\/","url_meta":{"origin":23441,"position":3},"title":"ASA Philippines Foundation Showcases Impactful Home Financing Solutions at the 2nd Socialized Housing Summit","author":"Emilenn Kate Sacdalan-Pate\u00f1o","date":"March 25, 2024","format":false,"excerpt":"ASA Philippines Foundation, one of the giant microfinance institutions in the Philippines, presented its innovative Home Financing program at the 2nd Socialized Housing Summit, showcasing its contributions to addressing the housing needs of low-income communities. The summit, organized by the Ateneo Center for Social Entrepreneurship (ACSent) and Social Enterprise Development\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/ASA-Philippines-Foundation-Showcases-Impactful-Home-Financing-Solutions-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/ASA-Philippines-Foundation-Showcases-Impactful-Home-Financing-Solutions-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/ASA-Philippines-Foundation-Showcases-Impactful-Home-Financing-Solutions-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/ASA-Philippines-Foundation-Showcases-Impactful-Home-Financing-Solutions-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/ASA-Philippines-Foundation-Showcases-Impactful-Home-Financing-Solutions-at-the-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":37341,"url":"https:\/\/sedpi.com\/en\/habitat-for-humanity-philippines-advocates-for-comprehensive-housing-solutions-at-2nd-socialized-housing-summit\/","url_meta":{"origin":23441,"position":4},"title":"Habitat for Humanity Philippines Advocates for Comprehensive Housing Solutions at 2nd Socialized Housing Summit","author":"Emilenn Kate Sacdalan-Pate\u00f1o","date":"March 25, 2024","format":false,"excerpt":"In a compelling narrative at the 2nd Socialized Housing Summit, Ms. Marilyn Estrellado of Habitat for Humanity Philippines shared insights into the transformative work of her organization in addressing the critical housing needs across the nation. Held at Ateneo de Manila University on March 18-19, 2024, and organized by ACSent\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Habitat-for-Humanity-Philippines-Advocates-for-Comprehensive-Housing-Solutions-at-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Habitat-for-Humanity-Philippines-Advocates-for-Comprehensive-Housing-Solutions-at-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Habitat-for-Humanity-Philippines-Advocates-for-Comprehensive-Housing-Solutions-at-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Habitat-for-Humanity-Philippines-Advocates-for-Comprehensive-Housing-Solutions-at-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Habitat-for-Humanity-Philippines-Advocates-for-Comprehensive-Housing-Solutions-at-2nd-Socialized-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":36913,"url":"https:\/\/sedpi.com\/en\/socialized-housing-production-hits-record-lowshda-highlights-compliance-challenges-at-housing-summit\/","url_meta":{"origin":23441,"position":5},"title":"Socialized Housing Production Hits Record Low,SHDA Highlights Compliance Challenges at Housing Summit","author":"Mariel Vincent Rapisura","date":"March 19, 2024","format":false,"excerpt":"During the enlightening 2nd Socialized Housing Summit, Santiago F. 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The year 2023 saw the production of socialized housing units plummet to a historic low since 2001, with only\u2026","rel":"","context":"In "Financial Inclusion"","block_context":{"text":"Financial Inclusion","link":"https:\/\/sedpi.com\/en\/category\/microfinance\/financial-inclusion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Socialized-Housing-Production-Hits-Record-Low-SHDA-Highlights-Compliance-Challenges-at-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Socialized-Housing-Production-Hits-Record-Low-SHDA-Highlights-Compliance-Challenges-at-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Socialized-Housing-Production-Hits-Record-Low-SHDA-Highlights-Compliance-Challenges-at-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Socialized-Housing-Production-Hits-Record-Low-SHDA-Highlights-Compliance-Challenges-at-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/sedpi.com\/en\/wp-content\/uploads\/2024\/03\/Socialized-Housing-Production-Hits-Record-Low-SHDA-Highlights-Compliance-Challenges-at-Housing-Summit.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/posts\/23441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/comments?post=23441"}],"version-history":[{"count":2,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/posts\/23441\/revisions"}],"predecessor-version":[{"id":23444,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/posts\/23441\/revisions\/23444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/media\/23443"}],"wp:attachment":[{"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/media?parent=23441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/categories?post=23441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sedpi.com\/en\/wp-json\/wp\/v2\/tags?post=23441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}