‘PHL needs more affordable homes’

The P2.5-billion investment made by Bria homes in affordable housing could spur the development of more affordable and quality housing options for Filipino workers, according to an official of leading property management and consulting company.

Last Monday, Bria homes announced it will allocate P2.5 billion for affordable housing this year. The company said it will focus on suburban areas as the country moves towards recovery.

“As a percentage of the work force will be working physically in the office while some will be working remotely or from home, the blended work force is expected to persist in the medium- to long-term,” Claro Cordero Jr., Cushman and Wakefield Philippines director and head of research, consulting, and advisory services, told Businessmirror in a phone interview.

“The availability of quality houses and accommodation for workers will support this growth direction.”

A recent report published by the Subdivision and housing Developers Association (SHDA) pegged the current national housing backlog at 4 million.

The University of Asia and the Pacific (UA&P) said in its recent study that this could go up to 6.5 million by 2030.

“The shortfall needs to be specifically addressed in the affordable housing segment, which industry experts consider a lucrative market for developers to pursue so long as costs can be kept down to ensure affordability,” Bria homes said in a statement.

As part of its contribution to unclog Metro Manila, Bria said it will expand its presence in the suburbs that are positioned to serve as prime residential locations outside Metro Manila.

To date, the Villar family-led Bria has launched a wide array of affordable house and lot units and vertical developments in nearby Cavite, Laguna, and Rizal, and in San Fernando, Pampanga.

The company also noted that decongesting the metropolis has become “viable” with the support of the government’s massive infrastructure program and the upgrading and expansion of mass transit systems.