PBBM vows affordable housing To set P1B fund to subsidize amortization for gov’t low-cost homes READ MORE
President Ferdinand Marcos Jr. said he is looking at a P1 billion subsidy to reduce monthly amortizations for recipients of the government’s low-cost housing units.President Ferdinand Marcos Jr. leads the groundbreaking ceremony for the National Pabahay Para sa Pilipino Housing Project – Batasan Development and Urban Renewal Plan on Tuesday, January 31, 2023.
“Perhaps, if we find a funding source, we will allot P1 billion to start with the distribution of subsidies for our future tenants,” he said.President Marcos thanked the DHSUD for leading the national government’s flagship housing program, and the Quezon City local government for its allocation of land and financial resources for the housing project.
The first phase of the Batasan area’s redevelopment will include the construction of two 33-story buildings with a total of 2,160 housing units planned to become both commercial and residential. Acuzar said the monthly amortization could be lowered with the help of an interest subsidy. With such a subsidy, instead of P8,000, a family could pay P3,500 to P4,000, he said.
Speaker Ferdinand Martin G. Romualdez on Tuesday expressed confidence that President Ferdinand Marcos Jr.’s target of building 6 million housing units during his six-year administration is attainable.
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