Philippine lawmaker calls for joint effort to make homes affordable

Representative JP Padiernos has called on Philippine government agencies, property developers and housing lenders to work more closely on bridging the divide between home prices and what families can afford.

Padiernos said buyers need manageable repayments, while builders must be able to maintain housing quality and commercially viable prices. He said housing supply must reflect families’ incomes, borrowing capacity, preferred locations and needs, rather than simply increasing construction.

Under the proposed initiative, participants would explore whether financing support, construction efficiencies, infrastructure coordination and quicker approvals could cut unnecessary costs. Padiernos said this should not come at the expense of building standards or protections for purchasers.

Pag-IBIG Fund reportedly provided ₱69.19 billion in home loans during the first half of 2026, supporting 43,051 units. Compared with a year earlier, lending value increased 15% and the number of units financed rose 9%. Loans for socialised housing totalled ₱6.70 billion, covering 6,601 units.

Research firm Colliers reported that Metro Manila had approximately 79,200 unsold condominiums when 2025 ended. Nearly 30,000 were ready for occupancy. In its report for the second quarter of 2026, the firm projected a residential vacancy rate of 25.6% by year-end.

Padiernos said the presence of unsold properties did not establish their affordability. He identified deposits, prices, loan eligibility, location and monthly repayments as barriers to purchases, while noting that developers continue to bear financing, maintenance and other expenses on unsold stock.