Expert Predict That Housing Market in the Philippines Will Boom in 2021

Housing Market in the Philippines

For the past few years our city, Cagayan de Oro has been experiencing calamities that we did not expect. Some of these calamities are Typhoons, floods in different Brgy in the City, and earthquakes which last 2020 Mindanao experienced the massive earthquake almost a month. But of course, we are not the only city or even country that have this problem in the past few years. The worst experience that maybe I could not forget, is this pandemic that the whole world is facing right now, the COVID-19. This COVID-19 would be part of our history already, in which thousands of people have died for this pandemic.

With this COVID-19 right now, everything has changed from lifestyle up to how you invest during this pandemic. This Covid-19 is more than a year already since the first case in the Philippines was announced and confirmed by the experts. It really has a big effect, establishments are closed, businesses are closed, employees cut their jobs, everybody is staying in their house for months or even for a year already. But some businesses survive because they let their employees work from home and their business was not affected by the pandemic COVID-19. The positive side of this pandemic is that, since most of the people or employees are working from home already it’s time for us to improve or make some renovation to our home so that we have some space for our home office and to make us comfortable during work.

Philippine real estate, Mortgage in the Philippines, Housing sector in the Philippines, Real estate investment in the Philippines, Philippine government agencies, covid-19 CDO, real estate in the CDO, Cagayan de Oro real estate, mortgage calculator,

Make the scene as well to invest in the real estate industry in the Philippines due to work from home. Why should we invest in this Real Estate or housing market? Because in 2021, there is a prediction that it will raise the market value – we’re talking steady mortgage rates, job recoveries, and the law of supply and demand all working together to spark a match that will make home sales go kaboom!

The Real Estate in 2021 will be booming because until now the medical experts are still finalizing the vaccine or cure for this COVID-19 although are some vaccines already used by other countries but still the percentage of the accuracy is not 100% yet. With this, some people already planned to buy their home. So if you have some extra money right now, buying a home will make a scene due to work from home and the pandemic.

Government Real Estate agencies of the Philippines

Housing and Land Use Regulatory Board (HLURB) – The HLURB, as the lead agency in the provision of technical assistance to local government units in the preparation of comprehensive land use plans; regulation of housing, land development, and homeowners association; and adjudications of disputes related thereto. (Executive Order 648; Executive Order 72; Republic Act 7279)
Home Development Mutual Fund (Pag-IBIG) – The Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was established to provide a national savings program and affordable shelter financing for the Filipino worker. It is mandatory for all SSS- and GSIS-covered employees; uniformed members of the AFP, BFP, BJMP, and PNP; as well as Filipinos employed by foreign-based employers.
Home Guaranty Corporation (HGC) – The HGC facilitates a guaranty line application, under Republic Act No. 8763 which involves the determination of the eligibility of a financial institution for the guaranty and incentives provided under the law.
Housing and Urban Development Coordinating Council (HUDCC) – is the government agency under the Office of the President created under Executive Order No. 90, which serves as the oversight, the overall coordinator, initiator, and facilitator of all government policies, plans, and programs for the housing sector; sets the overall direction and targets for the sector, and determines strategies, formulates appropriate policies, monitors, and evaluates the programs, projects, and performance of the implementing shelter agencies.
National Housing Authority (NHA) – Under Presidential Decree 757 dated 31 July 1975. NHA was tasked to develop and implement a comprehensive and integrated housing program that shall embrace, among others, housing development and resettlement, sources and schemes of financing, and delineation of government and private sector participation.
Social Housing Finance Corporation (SHFC) – Social housing powers and functions of the National Home Mortgage Finance Corporation such as the transfer of the Community Mortgage Program, Abot-Kaya Pabahay Fund Program have been directed and transferred to this government agency. The agency aims to provide 530,000 organized, homeless, and low-income families with Fair, Affordable, Innovative, and Responsive (FAIR) shelter solutions to their housing needs by 2022.

So far, these are the Philippine government agencies that I found that can help us if we will purchase some mortgage or housing loan soon during this COVID-19. With this agency, maybe we can estimate a mortgage that will fit our income.

So yeah, let’s try to explore the real estate market, maybe during this pandemic the real estate industry will help us when it comes to our daily income.