By Othel V. Campos |
Dec. 26, 2014 at 11:10pm [ manilastandardtoday.com ]
The housing backlog continues to
swell, despite the rise of residential condominium buildings in Metro Manila,
as the country needs to build 10 million new housing units over the next 20
years, an industry group said.
The Chamber of Real Estate &
Builder’s Associations Inc. said the housing backlog now stood at 5.5 million
units. The group said in its “Five-Point
Agenda for Housing” that with the expanding population, there was a need to
construct 500,000 housing units each year over the next 20 years.
“We need to address the 5.5 million
housing backlog now and build at least 10 million housing units by 2035 because
the problematic housing situation is already bearing heavily on our people’s
economic and social growth,” said Creba chairman Charlie Gorayeb.
The group asked the government to tap
the collective P220 billion in funds allocated to housing by different laws to
provide long-term and affordable financing for low-income earners.
Creba also pushed for the creation of
a centralized home financing program using annual investment in bonds worth P25
billion from the Social Security System, P25 billion from the Government
Service Insurance System and P70 billion from the Pag-IBIG Fund.
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