BAGUIO CITY — The adjusted socialized housing price ceiling is an opportunity to boost the implementation of the Pambansang Pabahay para sa Pilipino (4PH) Program and could pump-prime the economy, according to the Department of Human Settlements and Urban Development (DHSUD).
“We believe that more participants from the private sector will now join the program, a crucial necessity as we address the pressing housing backlog of 6.5 million units,” said Housing Secretary Jose Rizalino L. Acuzar in a statement released on Wednesday.
Under the adjusted ceiling, socialized subdivision projects now cost not more than P850,000 from the current P580,000 with a minimum floor area of 28 square meters with a loft of at least 50% of the base structure or 32 sqm, subject to existing rules and regulations.
On the other hand, socialized condominium projects are now set at P933,320 for 22sqm; P1,060,591 for 25 sqm, and P1,145,438 for 27 sqm for a four-storey building.
For projects composed of five to nine-storeys, the pricing is P1 million for 22 sqm; P1,136,364 for 25 sqm and P1,227,273 for 27sqm, and for 10 floors above projects, 22 sqm units cost P1,320,000; 25 sqm at P1,500,000 and 27 sqm at P1,620,000.
Mr. Acuzar and NEDA chief, Sec. Arsenio Balisacan, through Joint Memorandum Circular No. 2023-003, had agreed to adjust the current price ceiling which has been in effect since 2018 pursuant to Resolution Nos. 1 and 2 Series of 2018, issued by the now defunct Housing and Urban Development Coordinating Council, which are now deemed “unresponsive to the current economic situation.”
A flagship program of the Marcos administration, the 4PH aims to build over 6 million housing units by 2028. So far, it has 20 ongoing projects spread out in Luzon, Visayas and Mindanao.
Under 4PH, Mr. Acuzar is tapping private funds and investible funds from government financial institutions, instead of relying heavily on his department’s annual budget.
With the housing price cap, he said: “We expect that 4PH will now shift to higher gear with more participants coming from the private contractors and developers.”
Mr. Acuzar said that apart from its positive impact to 4PH, the price adjustment could also trigger economic activities in the housing and real estate sector. — Artemio A. Dumlao