Housing Backlog

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  • Your presentation wonderfully highlights the issue of 'Backlog' - you are welcome to have a look at how we address the building of homes to reduce the backlog - http://www.slideshare.net/moladi/housing-backlog
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Housing Backlog

  1. 1. Mass Housing Market Overview Housing Sector: Demand and Supply
  2. 2. Demand: 3.8M units over 6 years HOUSING NEED, 2005-2010 Category In Thousand Units Housing Backlog 984,466 - Doubled-Up Housing 387,315 - Replacement/Informal Settlers 588,853 - Homeless 8,298 Substandard (Upgrading) 186,334 New Households 2,585,272 Total 3,756,072 Source: The Housing and Urban Development Coordinating Council (HUDCC)
  3. 3. Demand: 2.6M New Households HOUSING NEED, 2005-2010 Category In Thousand Units Housing Backlog 984,466 - Doubled-Up Housing 387,315 - Replacement/Informal Settlers 588,853 - Homeless 8,298 Substandard(Upgrading) 186,334 New Households 2,585,272 Or 431K units/year Total 3,756,072 Source: The Housing and Urban Development Coordinating Council (HUDCC)
  4. 4. Affordability: Affects actual demand 10 7.5 5.2 (42%) MILLION FAMILIES 8 (29% of population) 6 3.7 4 (21%) 2 1.2 0.1 (7%) (<1%) 0 Can't Socialized A ffordable Mid-Income High-End A fford •29% of the population cannot even afford to buy socialized housing unit worth Php. 300,000 Source: National Statistics Office, Colliers International research (2006 statistics)
  5. 5. What can the market absorb? 431 k units needed by new households per year X 71% that can afford to buy = 306K units can be absorbed annually
  6. 6. Supply: 52% of Mass housing Market Demand
  7. 7. Focus: socialized, affordable & middle-income housing Socialized Affordable Middle-Income Price Points: for a house and lot Php 300K set by Pag-IBIG; recently raised to Php 400K) Up to Php. 1.5 Million Up to Php. 4 Million
  8. 8. Housing types and qualified families 10 42% 8 MILLION FAMILIES 29% of 6 population 21% 4 2 7% <1% 0 Can't Socialized Affordable Mid-Income High-End Afford 70% TARGET MARKET
  9. 9. How affordable is mass housing? Socialized Housing • Monthly amortization of Php 1,800 • Price ceiling at P300,00(recently increased to P400,000) • Interest rate at 6% per annum • Term of 30 years
  10. 10. Growth Driver: Low interest rates providing affordable housing packages NEW HDMF(PAG-IBIG) LOAN PACKAGES Monthly Monthly Loan Amount Old Interest New Interest Amortization Amortization (Pesos) Rate Rate for Old Rate for New Rate (Pesos) (Pesos) 400,000 7% 6% 2,661.21 2,398.20 750,000 7% 7% 4,989.77 4,989.77 1,000,000 10.5% 8.5% 9,147.39 7,689.13 1,250,000 10.5% 9.5% 11,434.24 10,510.68 2,000,000 10.5% 10.5% 18,294.79 18,294.79 3,000,000 N/A 11.5% N/A 29,708.74 Source: HDMF

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