Homeownership has the power to alleviate generational poverty. For many Filipinos, including OFWs dreaming of having their own home, affordable housing frees up money that can be used for healthcare, education, and other necessities. If rent is no longer the biggest expense, they could focus more on achieving personal and professional goals and uplifting overall quality of life.
Acquiring an affordable home seems more feasible as the government moves to resolve the housing backlog through the Pambansang Pabahay Para sa Pilipino (4PH) Housing Program. By 2028, the country is expected to have six million housing units.
However, in the years leading up to 2028, the need for affordable housing will likely continue as costs of living rise and consumers become more price-conscious. Understanding the supply and demand dynamics in affordable housing can help developers and brokerages identify underserved markets and discover new ways to provide more home options.
Upcoming real estate events, such as the Lamudi Property Fair in TriNoma, Quezon City, can also address the immediate need for affordable homes. The three-day event happening from May 3 to 5, 2024, will bring together some of the best affordable home options in the country, urging more Filipinos to start the homeownership journey.
To know more about the supply and demand for affordable housing in the Philippines, check out the infographic below:
For more data-driven insights, view our latest real estate reports.
