In Western Visayas, housing demand is very high.
The Western Visayas region has a very high demand for housing units, and the Home Development Mutual Fund (HDMF), or Pag-IBIG Fund, has surpassed its goals in terms of housing units and loan value from January to September of this year.
In an interview on Tuesday, Wilmer B. Lirazan, Department Manager III of the Pag-IBIG Fund’s Bacolod Housing Business Center, stated that they have a total loan value of PHP5.3 billion for 2022, divided into 12 months and aimed at 4,300 housing units.
Although a number was not immediately accessible during the interview, he said that between January and September of this year, they had already surpassed their goal thanks to accomplishments of 104 percent for loan value and 125 percent for housing units.
In Western Visayas, there is a significant and rising demand for housing. We were taken aback by the fact that, as of September, we were at a 104 percent loan value and a 125 percent home inventory, the man added.
Developers claim that there is still significant demand in the area, Lizaran continued, even though subdivision and condominium buildings were cropping up everywhere.
He claimed that high-end subdivisions and vertical constructions like condominiums are already in demand.
The home market saw a high level of acquisition in 2021, according to Lirazan, who said the health pandemic had not slowed it down.
He said that many young families must establish themselves independently, even if it means living in a modest home rather than renting an apartment or staying with their parents.
The two highly urbanized cities of Iloilo and Bacolod account for most takeaway orders. However, Iloilo City has a greater rate than other places in the region.
Nevertheless, he advised people looking for affordable homes to contact Pag-IBIG stores and consider applying for assets they have acquired as a possible option.
“The Pag-IBIG Fund regularly conducts our auction. New inventories are arriving, and those not purchased go to the negotiated sales. We simply want to make our members aware that this is a continuing activity, and all they have to do is check the Pag-IBIG Fund’s inventory, he said.
Pag-IBIG is hosting continuous housing displays during National Shelter Month at the Plazuela Uno through October 14, the Robinsons Mall in Iloilo through October 16, the Deca Homes 2 Club House on October 15, and the SM Iloilo from October 24–30.
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