Over 600 SSS properties for sale at Housing Fair

October 3, 2010 12:18 am 

MANILA, Oct. 2 — The Social Security System (SSS) offered for sale at attractive terms 660 acquired properties in a three-day Housing Fair that started on Friday, a top official said.

SSS president and chief executive officer Emilio de Quiros Jr. said the agency will accept an affordable five percent downpayment for SSS’ houses and lots, some for as low as P90,000, during the Housing Fair 2010 at SM Megamall in Mandaluyong City.

"We urge everyone to drop by the Housing Fair at Megatrade Hall 2 in SM Megamall this weekend," De Quiros said. "The event allows buyers to purchase acquired properties through negotiated sale instead of tedious bidding process."

SSS offers low annual interest rates of six percent for houses and lots worth P500,000 and below, and nine percent for properties worth more. It also grants a 10 percent discount to buyers who pay in full.

The SSS assets include foreclosed properties and those offered as payment through dacion en pago. In case two or more buyers are interested in the same property, the SSS will sell to the first person who pays the downpayment.

De Quiros said the SSS offers a maximum payment term of 10 years and buyers can pay until age 70 in cash or through managers or post-dated checks.

"I’m glad that through the Housing Fair program, SSS is able to make it easier for Filipino families to achieve their dream of owning a home," he said.

The Housing Fair carries the theme "Gaganda ang Buhay sa Sariling Bahay." It features properties of various government agencies such as the Housing and Urban Development Coordinating Council, National Housing Authority, Home Development Mutual Fund, Government Service Insurance System, Bangko Sentral ng Pilipinas and SSS. (PNA) scs/PR/rsm

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