Affordable housing segment shows strength, lifting residential market
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The Philippine residential market is recovering, driven by the affordable housing segment, which has seen a sharp increase in sales. The government's 4PH housing program has lowered barriers to entry for buyers, with down payments as low as P10,000 and subsidized interest rates.
The Philippine residential market is showing signs of recovery. The affordable housing segment is leading the way, with sales increasing sharply in the first quarter. This segment is typically priced below P2.5 million. The government's 4PH housing program is helping to drive demand. The program offers low down payments and subsidized interest rates. Overall residential demand rose 19 percent in the first quarter. However, the market still has a large inventory of unsold units, with about 81,000 condominium units remaining. Developers are focusing on selling existing inventory rather than launching new projects.
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