Housing sector sees 15% growth

By Katlene O. Cacho

SUBDIVISION and Housing Developers Association Inc. (SHDA) 7 reported 15 percent to 20 percent growth in the housing sector this year.
“There is a growing market of people who want to own houses,” said Rey Ralota, president of SHDA 7, during the opening of the 2009 Housing Fair and Trade Exhibits held at SM City Cebu Atrium last Friday.
He attributed such growth to Pag-ibig’s six percent interest rate in housing loans and Cebu’s continued growth in business and tourism.
“The expansion of business process outsourcing (BPO), remittances from the overseas Filipino workers (OFW) and the tourism in Cebu have contributed a lot to the
growth of the housing sector,” said Ralota, also president of Ramman Realty.
He noted that about 70 percent of the buyers are from the local market.
“Young professionals, start-up families and OFWs are the major buyers for low- cost houses,” he said.
With the city’s continued expansion in business and tourism, Ralota added, there is no doubt the housing sector will continue to expand.
However, such expansion, he said, will depend on the availability of the government’s funds. “Yes, we can expand so long as the government’s lending portfolio remains the same or will increase,” said JJ Atencio, president and chief executive of 8990 Housing Development Corp.
8990 Housing Development Corp. was able to develop 2,000 housing units this year.
“And we are optimistic that we will develop more housing units in the coming years,” he added.
The SHDA 7, in partnership with the Housing and Urban Development Coordinating Council (HUDCC), is celebrating Shelter Month in October.
The annual housing fair and trade exhibits were conceptualized to shelter the homeless.
“Housing developers are here to exhibit different housing units to address the growing demand for houses in the region,” Ralota said.
Exhibitors
This year’s housing fair is composed of 15 exhibitors in the region, including 8990 Housing Development Corp., PrimeHomes Development Corp., Willow Park Properties, Philippine Estates Corp., Primary Homes Inc., Ramma/Buildrich Realty and Development Corp., Shelter Concepts Inc., Pacific Land Ventures and Property Development Inc., Taft Property Venture Development Corp., ProHomes Development Corp., AboitizLand Inc., Tri Star Paints Center and Construction Supply and Home Development Mutual Fund/Pag-Ibig.
The housing and trade fair exhibit will be until Oct. 30.
Aside from the housing fair, SHDA 7 will also host the Visayas-Mindanao-wide Housing Summit in May next year.
“This summit will focus on sustainable development where issues and concerns on disaster preparedness will be tackled,” Ralota said.
He also added that they will pilot the project on rainwater catchment.
“This is one of the immediate solutions we see on the problems on flooding. With this rainwater catchment, we can conserve and re-use water for other purposes,” he said.


Published in the Sun.Star Cebu newspaper on October 26, 2009.