With a housing backlog of approximately 6.9 million units and the number of households increasing by 435,000 per year, it is an understatement that the Philippines is in dire need of a drastic action to provide houses to millions of Filipino families.
“As shelter is one of the three basic human needs, it is pertinent for the industry to find a collaborative solution to this pressing issue,” said Lamudi managing director Bhavna Suresh Chathambeth.
According to Suresh, this is the reason why the global real estate website is partnering with the Subdivision and Housing Developers Association (SHDA) for The Outlook by Lamudi, a coming together for the real estate community leadership to discuss the findings of a nationwide survey of some 10,000 Filipino property seekers.
Experts and leaders from across the industry will gather in the same room on November 16 to discuss what’s next for the real estate sector, and among the broad topics to be discussed include trends in mixed-use developments, the issues affecting affordable housing, infrastructure development, and sustainability, among others.
SHDA will serve as the event’s thought leader to spearhead the discussion of issues affecting the industry.
“There are so many issues besetting the residential sector,” noted SHDA national president Christopher Narciso. “This partnership with Lamudi will afford SHDA valuable exposure, especially in the online space, to voice these out.”
Apart from the rising housing backlog, Narciso said a looming lifting of the value added tax exemption on low-cost housing and a reduced housing budget are two of the most pressing concerns that the sector needs to focus on.
In addition, SHDA is also aiming to increase awareness on inclusive growth, which is an important factor that will help address the housing backlog.
“The Outlook by Lamudi is a great opportunity for SHDA to present the issues to the industry’s leaders,” Narciso added .
The Outlook by Lamudi will collate and analyze the responses of participants who were asked a range of questions—from what they deem to be the country’s best condominium developers, to their opinion on who delivers the best housing or subdivision projects. Other questions delve on high-end condo developments, amenities, and design, among others.
“We’re very excited about the results of this survey, as it will be the first where actual property-seekers were asked about their opinion of the real estate industry,” Suresh said.
The real estate players and projects cited by the survey respondents’ as the industry’s best will also be acknowledged in an event on November 16 at the New World Makati.
Suresh added that the survey results will also offer a good opportunity for developers to gain insights from property seekers and in the process, further improve service and the quality of their products.