Housing in the country remain expensive for most Filipinos as wage increases are just enough to cover for rising commodity prices, according to the Philippine Institute for Development Studies (PIDS).
Housing in the country remain expensive for most Filipinos as wage increases are just enough to cover for rising commodity prices, according to the Philippine Institute for Development Studies .
“This is not the case in the Philippines, where there are 47 percent low-income and 20 percent vulnerable households. Then, if you look at real wages, it is not rising. Whatever increase in wages we experience is only enough to cover inflation,” Ballesteros explained. In their analysis, the number of Filipino households that experienced socialized housing stress in 2018 rose from 16 percent using the 30-percent rule to 31 percent using the residual income method.
“To address shelter poverty, the study recommends passing enabling policies and pursuing reforms such as creating land community trusts and a public housing fund at the national and local levels, offering incentives for rental housing developments for low and middle-income groups, implementing standard valuation of real estate properties, increasing idle land tax, and ensuring ease of doing business in land titling and transfers, building permits, and licensing,” PIDS said.
“We are continuously working on this inventory of plans and we will be partnering with other government agencies [that are] also involved in land,” DHSUD Undersecretary Avelino Tolentino said in a televised briefing.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine government told to cut red tape in housing development - BusinessWorld OnlineTHE PHILIPPINE government should shorten the application process for housing development projects for ease of doing business, according to a stakeholder.
Read more »
Survey: 8 in 10 Filipinos favor ‘no contact’ rule for motoristsStratbase-ADRI chief executive officer Dindo Manhit bared the results of a recent Pulse Asia survey showing that 8 out of 10 Filipinos are in favor of NCAP. READ:
Read more »
Filipinos borrowing more due to inflation, pandemic - BusinessWorld OnlineFILIPINOS are borrowing more due to lower income and rising expenses amid high inflation and the lingering impact of the pandemic, according to a survey.
Read more »
In Myanmar, human trafficking hub forces Filipinos into crypto scamThe ordeal of 12 Filipinos forced into a cryptocurrency scam by Chinese mafia in Myanmar is just one of thousands of human trafficking stories in Southeast Asia.
Read more »
Inside Myanmar’s human trafficking hub forcing Filipinos into crypto scamThe ordeal of 12 Filipinos forced into a cryptocurrency scam by Chinese mafia in Myanmar is just one of thousands of human trafficking stories in Southeast Asia. More in this in-depth report by Ralf Rivas:
Read more »
More Filipinos want to borrow money-- surveyCaught between declining income and increasing expenses in the wake of the pandemic, more Filipinos are interested to borrow, according to survey data from consumer finance service Digido released Wednesday, Nov. 23. READ:
Read more »