CREBA aims to hit .5 million housing units every year

CEBU, Philippines — The Chamber of Real Estate and Builders’ Associations (CREBA) continues to push for its five-point agenda to address the nagging housing gap problem in the country.

CREBA's target is looking to achieve an annual housing production of 500,000 units in the next two decades.

The country's housing backlog continues to widen, currently at more than 5.5 million.

The group's agenda includes long-term and affordable funds for socialized and economic housing; affordable homes for employees in urban areas; lands for residential, commercial and industrial development; efficient local government housing regulations; a full-fledged Department of Housing and Urban Development (DHUD).

On April 30, CREBA-Cebu recently met to discuss these including the recent developments following the creation of a new agency for housing and urban development.

CREBA Cebu president Bobby Pacana said the housing gap remains a top concern in the industry. 

He said the industry projected more housing units to be built, which should hopefully address the backlog. 

He, however, said the industry has to consistently catch up as urbanization continues to jack up demand for housing.

CREBA has pushed for the passage of a bill that pools together a P270-billion Comprehensive Home Financing Program to grant long-term and affordable housing loans to low-income earners.

The country’s rising housing backlog transcends many other facets of the nation’s overall economic and social development.

Overcoming the problem, CREBA noted, requires collaborate between the government and private sector.

The group's annual production target will collectively pump prime the economy by opening new job opportunities, raising incomes and generating tax revenues for both local and national governments.