Need to catch up with what’s happening in the Philippine real estate industry? Here’s a roundup of the top real estate news this week (Dec. 23-29, 2022).
- Financial institutions sign MOU to support housing program
The Department of Human Settlements and Urban Development (DHSUD) recently signed Memoranda of Understanding with Pag-IBIG Fund, Development Bank of the Philippines, Social Security System, Government Service Insurance System, and Land Bank of the Philippines in support of the government’s Pambansang Pabahay para sa Pilipino Program. These government financial institutions will play a major role in the objective of building one million houses per year for six years. Real Estate News.PH
- Property sector expected to sustain recovery in 2023
The Philippine property market may finish strong in 2022, according to property services provider Colliers. It pointed to the improved office deals in the country, higher supply and demand for condominiums in Metro Manila, increase in mall visitors, and higher occupancies and average daily rates in hotels as factors that support such a forecast. Real Estate News.PH
- Solon pushes review of socialized housing price ceiling
The DHSUD and the National Economic and Development Authority (NEDA) must update the price ceiling of the country’s socialized housing program to keep up with the current economic condition. This according to Rep. Ivan Howard Guintu of the Pinuno party-list, who filed House Resolution 608 for this end. Real Estate News.PH
Planning to invest in real property this New Year but not sure where to start? You might want to consider foreclosed properties that have their unique advantages.
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Featured Image: Real Estate News.PH