#RealEstateWrapUp: Real Estate News You Need to Keep up With

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Here are the most recent stories about the real estate landscape:

New La Union-Baguio Road Now Open

Photo via Mark Villar FB page

The newly-completed 14.24-kilometer road aims to lessen the travel time from this La Union to Benguet and to Baguio City from more than two hours to an hour. The road includes the 36-meter Anduyan bridge, which is said to benefit residents of Barangay Rizal and Alog East as the bridge eliminates the need for rafts to cross Aringay River. According to DPWH Secretary Mark Villar, the bridge is also expected to decongest traffic along Marcos Highway in lieu of Kennon Road’s closure.

Source: Philippine Star

CREBA Supports Creation of Comprehensive Home Financing Program

Photo via DepositPhotos

The Chamber of Real Estate and Builders’ Associations Inc. (CREBA) is all hands on deck for House Bill (HB) 4886, a bill that seeks to create the Comprehensive Home Financing Program (CHFP). The measure is meant to address the country’s housing backlog by providing more Filipinos access to housing financing. According to CREBA National Chairman Charlie Gorayeb, House Bill (HB) 4886 is “only necessary and in fulfillment of its (government’s) constitutional duty to deliver housing for its people.”

Source: Philippine Star

Pag-IBIG Releases Up to P58.78 B Worth of Loans in 10 Months

Photo via DepositPhotos

To cater to the strong demand from borrowers in the face of its low interest rates, the Home Mutual Development Fund (Pag-IBIG Fund) has increased the total amount of housing loans it offered to P58.78 billion during the first 10 months of 2018. Pag-IBIG said that housing loans which were extended from January to October increased more than 15 percent as compared to the P51 billion that was released in the same period last year. Similarly, the number of houses finances also increased by 11 percent.

Source: Philippine Star

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