2008 HOUSING FAIR OPENS TOMORROW
October 28, 2008

A 150 square meter lot in General Santos City for P334,000. A P710,000 duplex in Mandaue City. A house and lot in BF Homes, Las Pinas for P1.7 million. A lot in San Fernando Pampanga for only P84,000.

These are just a few of the properties up for sale at the three-day Housing Fair 2008, which opens tomorrow, October 29, at the SM Megamall Megatradre Hall 1 and 2 in Mandaluyong City.

Organized by the Housing and Urban Development Coordinating Council (HUDCC), this year’s housing fair will offer over 10,000 properties nationwide—residential lots, house and lot packages or condominium units—at discounted prices, and which may be purchased through low interest loans.

To be sold on an “as is, where is” basis are the foreclosed properties of participating government financing institutions (GFIs) and shelter agencies Home Guaranty Corporation (HGC), Pag-IBIG Fund, National Home Mortgage Finance Corporation (NHMFC), Bangko Sentral ng Pilipinas (BSP), Social Security System (SSS) and Government Service Insurance System (GSIS).

The event is open to government workers, private sector employees and overseas Filipino workers.

This is the third year that the government is holding a Housing Fair, first held in October 2006 at the Glorietta Activity Center in Makati City upon the direction of HUDCC Chairman Vice President Noli “Kabayan” De Castro, with government employees as the primary target market.

This year, President Gloria Macapagal-Arroyo signed Memorandum Circular 160 directing the conduct of yearly Housing Fairs as part of the National Shelter Month celebrated every October.

According to Vice President De Castro, the Housing Fair aims to give assistance—and a form of non-wage benefit—to all Filipino workers in acquiring affordable housing units.

It also aims to fast track the disposition of acquired properties of the key shelter agencies and GFIs.

“We know that many Filipinos are looking for affordable homes they can buy, while our shelter agencies and GFIs have a large inventory of acquired properties. The Housing Fair brings the sellers and interested buyers together in one place,” he said.

Before Housing Fairs were held, acquired properties usually remain as idle assets for a long time due to limited opportunities for disposition and lack of awareness on the part of buyers.

This year, the HUDCC reported that participating agencies and GFIs have earned combined revenues of P4.7 billion through the Housing Fairs since 2006. The Pag-IBIG Fund is the biggest seller with 14,830 units sold worth around P4 billion.

“This is good for the financial condition of both the sellers and buyers. The sellers get more liquidity from disposing their idle assets. The buyers get great savings through housing loans with amortizations that could be lower than monthly house rentals,” the Vice President added.

For buyers interested in brand new homes, the Housing Fair will also have exhibits featuring the housing projects of private developers. Suppliers of home furnishings and interiors will also showcase their products and services.

Interested parties may contact the HUDCC hotline at 0917 815.5369, call 812-6495 or visit www.hudcc.gov.ph for more information.

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