Incentives for green developers

CEBU, Philippines - Global online property guide and service provider Lamudi Philippines has made an appeal to President Rodrigo Duterte to offer incentives for green building developers in the Philippines.

"Green building is steadily gaining momentum in the real estate industry, but not all have adjusted their developments and construction practices to accommodate sustainable elements. By incentivizing the creation of more sustainable residential, commercial, and retail structures, not only are developers able to do their part in lessening their carbon footprint, they’re also helping buyers and renters do the same thing," indicated the company's list of recommendations to the Duterte government as its way of helping promote responsible property development sector in the country.

According to Lamudi, green designs allow the entry of natural light and improve air circulation, which help residents and tenants economize and save money in the long run.

 A green building, also known as green construction or sustainable building, refers to both a structure and the using of processes that are environmentally responsible and resource-efficient throughout building's life cycle — from siting to design, construction, operation, maintenance, renovation, and demolition.

While giving incentives to responsible developers for green building projects is seen to balance the negative impact of industrialization, the Philippines also needs to address the provision of affordable or socialized housing units.

According to Lamudi, home ownership is probably the biggest dream of all hardworking Filipinos, yet the current property market lacks the supply to make this a reality.

Even with the availability of home loans from government sectors and private lenders, saving up for a home is still a challenge once basic needs, children’s tuition fees, and emergency funds are taken into account.

"If the new administration were to focus on meeting the demand for affordable housing, buying a home whether in Metro Manila or in provincial areas would be easier for the average Filipino family," Lamudi white paper said.

Also, bringing telecommunications and utilities to underserved areas of the Philippines should encourage developers to construct more homes in provinces, providing current and future residents with a safer and more comfortable lifestyle.  (FREEMAN)