Just how reasonably priced are homes in Metro Manila in contrast with different international locations in Asia?
Data from the 2023 Urban Land Institute (ULI) Asia Pacific Home Attainability Index confirmed that Metro Manila’s house affordability ratio is without doubt one of the highest or most costly within the area after the cities in China, Vietnam, Hong Kong and Indonesia.
In a “24 Oras” report by Bernadette Reyes, the examine in contrast the home costs in an space to a household’s earnings.
In Metro Manila, the home costs are greater than 24 occasions greater than the household’s annual earnings, the report mentioned.
“While Metro Manila allows a high FAR (Floor to Area Ratio) of 16 or even higher, it suffers from limited housing stock and poor urban transportation infrastructure for a fast-expanding number of young professionals. The government has recently embarked on an ambitious campaign to building one million homes per year for the next five years,” the examine mentioned.
According to the 2020 Census on Population and Housing, most occupied housing items within the Philippines smaller than 20 sq. meters, whereas the proportion of occupied housing items with 90 to 119 sq. meters is the smallest.
GMA Integrated News has sought an announcement from the Department of Human Settlements and Urban Development (DHSUD) on the subject.—Sherylin Untalan/LDF, GMA Integrated News
Source: www.gmanetwork.com
