By Pia Lee-Brago
Wednesday, October 29, 2008 [ philstar.com ]
The 2008 Housing Fair will open today to offer over 10,000 properties nationwide.
The three-day Housing Fair 2008 at the SM Megamall Megatrade Hall 1 and 2 in Mandaluyong City is oganized by the Housing and Urban Development Coordinating Council (HUDCC).
The properties nationwide include residential lots, house and lot packages or condominium units at discounted prices, and may be purchased through low interest loans.
To be sold on an “as is, where is” basis are the foreclosed properties of participating government financing institutions (GFIs) and shelter agencies Home Guaranty Corp. (HGC), Pag-IBIG Fund, National Home Mortgage Finance Corp. (NHMFC), Bangko Sentral ng Pilipinas, Social Security System and Government Service Insurance System.
The event is open to government workers, private sector employees and overseas Filipino workers.
Vice President Noli de Castro said among the few properties up for sale at the three-day housing fair 2008 include a 150-square meter lot in General Santos City for P334,000; a duplex in Mandaue City worth P710,000; a lot in San Fernando, Pampanga worth P84,000.
De Castro said this is the third year that the government is holding a housing fair, the first was in October 2006 held at the Glorietta Activity Center in Makati City upon his direction as HUDCC chairman with government employees as the primary target market.
He said President Arroyo signed this year memorandum circular 160 directing the conduct of yearly housing fairs as part of the National Shelter Month celebrated every October.
“The housing fair aims to give assistance and a form of non-wage benefit to all Filipino workers in acquiring affordable housing units. It also aims to fasttrack the disposition of acquired properties of the key shelter agencies and government financial institutions,” De Castro said.
De Castro said the government knows that many Filipinos want to have affordable homes to buy.
“We know that many Filipinos are looking for affordable homes they can buy, while our shelter agencies and GFIs have large inventory of acquired properties. The housing fair brings the sellers and interested buyers together in one place,” De Castro said.
He said this year, the participating agencies and government financial institutions have earned combined revenues of P4.7 billion through the housing fairs since 2006.
The Pag-IBIG fund is the biggest seller with 14,800 units sold worth around P4 billion.
“This is good for the financial condition of both the sellers and buyers. The sellers get more liquidity from disposing their idle assets. The buyers get great savings through housing loans with amortizations that could be lower than monthly house rentals,” De Castro said. – With Jose Rodel Clapano
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