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High demand for housing seen in Western Visayas

By Perla Lena

October 11, 2022, 7:08 pm

<p><strong>HOUSING DEMAND</strong>. Wilmer B. Lirazan, Pag-IBIG Fund Bacolod Housing Business Center Department Manager III, talks about the ongoing housing exhibit in line with the celebration of National Shelter Month this October in a press conference on Monday (Oct. 10, 2022). In an interview on Tuesday (Oct. 11) he said that there is a high demand for housing in Western Visayas. <em>(PNA photo by PGLena)</em></p>

HOUSING DEMAND. Wilmer B. Lirazan, Pag-IBIG Fund Bacolod Housing Business Center Department Manager III, talks about the ongoing housing exhibit in line with the celebration of National Shelter Month this October in a press conference on Monday (Oct. 10, 2022). In an interview on Tuesday (Oct. 11) he said that there is a high demand for housing in Western Visayas. (PNA photo by PGLena)

ILOILO CITY – The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund is seeing huge demand for housing units in Western Visayas, exceeding its targets in terms of the loan value and housing units from January to September this year.

Wilmer B. Lirazan, Pag-IBIG Fund Bacolod Housing Business Center Department Manager III, in an interview on Tuesday, said for 2022, they have a total of PHP5.3 billion loan value divided into 12 months targeting around 4,300 housing units.

While there was no available figure during the interview, he said they have already exceeded their target from January to September this year with their 104 percent accomplishment for loan value and 125 percent for housing units.

“There is a big and high demand for housing in Western Visayas. We were surprised that as of September we are at 104 percent in terms of loan value and 125 percent in terms of housing inventory,” he said.

Lizaran added that while there were sprouting subdivision and condominium developments, developers affirm that there remains a high demand in the region.

There is already a demand for high-end subdivisions and vertical developments like condominiums, he said.

Lirazan said the health pandemic did not slow down the housing industry but in fact, there was a high acquisition in 2021.

“There are a lot of new families that need to start on their own even if it’s only a small house and not just rent or live with their parents,” he said.

The bulk of the takeout is in the highly urbanized cities of Iloilo and Bacolod but the rate is higher in Iloilo City compared with other areas of the region.

Nonetheless, he urged those who are looking for affordable housing units to visit Pag-IBIG branches and applied for acquired assets as one option.

“Our auction is a regular activity of the Pag-IBIG Fund. We have fresh inventories coming in and those that could not be bought goes to the negotiated sales. We just would like to create awareness among our members that this is an ongoing activity and all they have to do is to check the inventory of Pag-IBIG Fund,” he said.

This National Shelter Month, Pag-IBIG has ongoing housing exhibits at the Plazuela Uno until Oct. 14 and at the Robinsons Mall- Iloilo until Oct. 16, at Deca Homes 2 Club House on Oct. 15, and at the SM Iloilo, Oct. 24-30. (PNA)


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