The Department of Human Settlements and Urban Development (DHSUD) is preparing a new housing financing scheme that would tap unsold condominium units for the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, giving private developers another channel to clear inventory while widening affordable housing options in Metro Manila.
DHSUD Secretary Jose Ramon Aliling said the proposed modality, to be implemented through Pag-IBIG Fund, would cover condominium units priced at up to P3 million. Qualified buyers would be able to purchase existing units using government-backed financing, potentially at lower prices and preferential interest rates.
The proposal seeks to address two challenges at once: the buildup of unsold condominium inventory and the limited supply of affordable homes in prime urban locations.
“With this new modality through Pag-IBIG Fund, we will enable private developers to sell more units, thus addressing inventory issues, while offering wider options for our homebuyers,” Aliling said.
DHSUD and Pag-IBIG Fund are expected to issue implementing guidelines for the scheme soon. The initiative could also help developers meet their obligations under the government’s balanced housing program.
Aliling presented the proposal during Tuesday’s meeting of the Private Sector Advisory Council’s real estate group, chaired by President Ferdinand Marcos Jr. Major developers, including Ayala Land, Robinsons Land and SM Prime Holdings, attended the meeting.
According to DHSUD, developers expressed willingness to reduce the selling prices of existing units to bring them within the program’s P3-million ceiling.
Ayala Land President Meanne Dy also highlighted the role of Pag-IBIG’s low-interest housing loans in helping property companies manage inventory.
If implemented, the scheme would shift part of the government’s affordable-housing push toward units that are already built and available, rather than relying solely on new residential developments.
For developers, that could provide another route to move unsold stock. For the government, it could expand the pool of homes available to qualified 4PH beneficiaries without waiting for new projects to be completed.
