ADVERTISEMENTThe ceiling for four-story socialized condominium projects are now set at P933,320 for 22 sqm; P1,060,591 for 25 sqm and P1,145,438 for 27 sqm units. If the land development cost is included, the socialized condominium projects’ price ceiling is set at a maximum of P1,800,000. ADVERTISEMENTHousing backlogThe current price ceiling for social housing was last adjusted on April 27, 2018, through Resolution Nos. This “discourages” the private sector from building affordable houses for low-income and underprivileged families, they noted. “To address the housing needs of approximately 6.5 million Filipino households, a two-pronged approach is necessary, which involves encouraging private sector participation in constructing socialized housing units,” Acuzar and Balisacan said.

Source: Philippine Daily Inquirer October 23, 2023 22:10 UTC