Expanded 4PH targets condo glut, cheaper homes

The government is expanding its flagship housing program to help private developers clear unsold condominium units while giving more Filipinos access to strategically located homes at lower prices.

Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling said the new Expanded 4PH modality will cover condominium units priced at ₱3 million and below, particularly those in prime locations.

The initiative is expected to help address the growing inventory of unsold condominium units, especially in the National Capital Region, while allowing qualified homebuyers to take advantage of Pag-IBIG Fund’s low-interest housing loans.

“With this new modality through Pag-IBIG Fund, we will enable private developers to sell more units, thus addressing inventory issues, while offering wider options for our homebuyers and access to best-located housing units at a lower price with low interest rates,” Aliling said.

“It will be a win-win balance for our stakeholders – the homebuyers and developers,” he added.

Aliling presented the proposal during Tuesday’s meeting of the Private Sector Advisory Council Infrastructure Sector Group-Real Estate, presided over by President Ferdinand R. Marcos Jr.

The meeting brought together senior government officials and executives from some of the country’s biggest property developers, including Aboitiz Group, Robinsons Land Corp., Ayala Land Inc. and SM Prime Holdings.

Ayala Land President Meanne Dy noted that Pag-IBIG Fund’s existing low-interest housing loan programs under Expanded 4PH are already helping the real estate industry address inventory challenges.

The new modality is also expected to help private developers comply with the government’s balanced housing requirements, while encouraging them to offer lower selling prices.

Aliling said DHSUD and Pag-IBIG Fund will soon release the guidelines governing the expanded scheme.

He said the program would further widen access of Filipino workers to condominium projects in prime locations while supporting the government’s nationwide rollout of Expanded 4PH.

“Patunay ang PSAC meeting na ito sa commitment ng administrasyon ni PBBM upang mas mapalago at lalong tumatag ang sektor ng pabahay para sa kapakinabangan ng mas maraming pamilyang Pilipino,” Aliling said.