With the approval of the 20-year housing roadmap, the Department of Human Settlements and Urban Development (DHSUD) expects to see “better, greener, and smarter human settlements and urban systems” in the country, Philstar reported.
Housing czar Eduardo del Rosario noted that the roadmap would promote urban and rural growth, spurring widespread development in the country. It reflects the “hopes and visions for a progressive Philippines,” del Rosario shared.
Consolidated Plan
The roadmap, officially called the National Housing and Urban Development Sector Plan (NHUDSP), features both ongoing and planned strategies, plans, and programs of the housing department and its key shelter agencies. It supports the government’s goals under the Philippine Development Plan 2017 to 2022 and AmBisyon Natin 2040.
The National Human Settlements Board (NHSB) approved DHSUD’s housing roadmap. The coalition is composed of the Departments of Finance, Budget and Management, Public Works and Highways, and Interior and Local Government.
The agencies National Economic and Development Authority (NEDA), Development Mutual Fund, National Housing Authority, Social Housing Finance Corp., National Home Mortgage Finance Corp., and Human Settlements Adjudication Commission are also part of the board.
Priority Programs
The banner projects in the NHUDSP strive to “create spaces, transform spaces into communities, make communities accessible and affordable, and empower communities.”
In an Inquirer report published last January, Del Rosario revealed that the roadmap contains strategies in addressing the current housing backlog, which is at 6.5 million units. Part of the plan is to make housing more affordable to low-income families.
Last March, the House of Representatives approved the bill providing a rental subsidy program to some 4.5 million informal settlers around the country, as reported in this Philstar article.
These pertain to “households living in a lot, private or public, without the consent of the property owner; or those without legal claim to the property they are occupying; or those living in danger areas such as esteros, railroad tracks, garbage dumps, riverbanks, shorelines and waterways,” as defined by the approved legislation.
The DHSUD oversees the rental subsidy program, coordinating with key housing agencies.
Under the approved bill, informal settler families will receive rental subsidies, the amount depending on the existing rental rates in the locale they will be relocated to and their financial capabilities.
The amount proposed for those qualified in Metro Manila is P3,500 monthly. For those in the provinces, the amount will be considerate of the regional wages. However, it will not exceed P3,500.
Affordable Dream Home
The shelter financing agency has also stepped up its efforts to make housing affordable to Filipinos. In the latest report from Pag-IBIG, cited in Manila Bulletin, more than 5,000 members from the minimum-wage and low-income segments received socialized home loans in the first quarter of the year. The amount released totaled P2.2 billion.
Representing 25 percent of the total number of loans, socialized home loans are equivalent to 11 percent of the total P20.94 billion released in the mentioned period. The number of socialized home loans climbed by 25 percent compared to the first quarter of 2020. The amount, on the other hand, posted a 34 percent growth.
According to del Rosario, Pag-IBIG’s Affordable Housing Program, which introduced the lowest rates and longest terms in the market, allowed minimum-wage and low-income workers to realize their homeownership dream. Through the program, borrowers can have up to P580,000 to fund socialized house and lot packages or up to P750,000 for socialized condominium units.
The loans come at a special rate of three percent per annum. According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, the subsidized rate has been in place since May 2017. Being tax-exempt under Republic Act No. 9679, Pag-IBIG was able to lower the rates for home loan offerings.
Other than offering affordable loans, the shelter financing agency delivers its commitment to help Filipinos realize their homeownership dream by educating the public about their programs.
In the recently concluded Lamudi online housing fair, Pag-IBIG joined to discuss their various programs in a featured webinar. Vianifer Abrigo, Housing Relationship Officer, talked about eligibility requirements, maximum home loan amounts, mortgage redemption insurance, and application steps.
The country’s first and biggest online housing fair ran from May 3 to 31.
Article and Photo originally posted by Lamudi last June 4, 2021.
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