I had a chance to understand more of the Subdivision and Housing Developers Association, Inc (SHDA) and of their past and present accomplishments. Their byline “One Voice nad One Organization Uniting all Housing Developers (Horizontal & Vertical) Nationwide” is very assuring. It is heartening to know that a group is working out ways to help out the real estate industry in the Philippines. Despite the slow down of economic growth globally, low-cost housing is still in demand which is up to the 3 million peso range. The market is made up mainly of our overseas filipino workers.
One of its noble mission is to produce 400,000 affordable and decent housing units annually which most of our countrymen need. Aside from this, I also believe that a good mortgage package needs to be in place.
SHDA played the lead role in advicing Housing and Urban Development Coordinating Council (HUDCC) Chair Noli de Castro to reduce interest rates on housing loans in 2006, the extension of repayment terms to a maximum of 30 years; and an increase in the loan-to-value ratio of the housing unit used as a collateral. There are also proposed bills which are being monitored such as Senate Bill Nos. 37/422 “An Act Establish a Socialized and Low-Cost Housing Loan Restructuring Program” which has been enacted into a law last month. There are other pending bills and it is reassuring to know that soon, some of our countrymen will be able to afford to purchase their own homes.
For more information on SHDA, contact them at +632-893-4328 or [email protected]