HUDCC Davao prepares for nationwide housing fair slated in October

September 7, 2009 11:06 pm 

DAVAO CITY, Sept. 8 – The Housing and Urban Development Coordinating Council (HUDCC) here is now preparing for the housing fair that will be held both by government and private sector throughout the country during the Shelter Month in October.

HUDCC assistant secretary Pamela Felizarta said this activity would allow the acquired assets of government financial institutions be sold to prospective homebuyers at better price.

“It will be a nationwide activity with 45,000 to 50,000 acquired housing units offered for sale in the different sites during the Housing Fair,” she said.

Felizarta said the Housing Fair in Davao City will be held on October 28 to 30 at NCCC Mall, Matina.

This year’s activity will be held in coordination with the Construction and Real Estate Builders Association of the Philippines with the support of the Shelter Agencies of the government, namely: Pag-IBIG Fund, National Home Mortgage Finance Corporation, Bangko Sentral ng Pilipinas, Government Service Insurance System, Social Security System and other related agencies.

Felizarta said it has already been an event that homeseekers look forward each year knowing that housing fairs are held every celebration of the Shelter Month.

"I think, the public are already aware of this event and also with the aspect on their responsibility as housing borrowers," she said.

But Felizarta said they hope that the number of foreclosed units be lowered this time because that figure had been consistent since the past years.

"With the new condonation law, we hope that the figure of acquired assets be lowered," she said.

She said if there are accounts that become active, there are also others that met arrearages.

But with the Housing Fairs that they had conducted, they were able to achieve their two objectives of selling the acquired properties and to sell it at affordable prices.

She said a study they conducted found that with the holding of the fairs, they were able to meet high disposition of acquired properties and not as much as when fairs were not held.

The holding of housing fairs started in 1995 but it was institutionalized in 2006 by Vice President De Castro as he directed all shelter agencies to sell their acquired assets first to government employees.

But in the succeeding years, these assets were also offered to other employees and overseas Filipino workers (OFWs).

During the Housing Fairs, there will also be exhibits of new housing sites by real estate developers not only on the selling of housing packages but also commercial lots.

There will be requirements of the housing agencies with regards disposition of properties for Pag-IBIG Fund. Interest rates is at six percent for any amount up to P2 million payable in 30 years with an offering of discounts of 20 percent for cash buyers and 15 percent upfront discount for housing loans plus five percent additional occupancy discount for litigation if occupied.

It requires 15 percent downpayment and P1,000 reservation fee.

Felizarta said these acquired properties can also be checked in offices of concerned government agencies. (PNA) LDV/DDB/lvp


One Response to “HUDCC Davao prepares for nationwide housing fair slated in October”

  1. Jay Castillo on September 8th, 2009 2:22 pm

    This is welcome news for all those who are looking for affordable homes(who doesn’t?!). People should make this a priority as opportunities like the housing fair only happens once a year.