ESCUDERO PUSHES TO INTEGRATE UNSOLD CONDO UNITS INTO GOVERNMENT’S HOUSING PROGRAM

SENATOR Francis “Chiz” Escudero is pushing to bring thousands of unsold condominium units into the government’s housing program.

According to Escudero, the existing real estate inventory should be tapped as part of broader efforts to make decent and affordable housing more accessible to Filipinos.

The Bicolano senator brought up the proposal during his Chiz Wiz! podcast over the weekend, where he was joined by Department of Human Settlements and Urban Development (DHSUD) Undersecretary Marisol Anenias and Colliers Philippines Research Director Joey Roi Bondoc.

Bondoc said there are around 80,000 unsold condominium units in the National Capital Region alone, many of which were originally intended for the Philippine offshore gaming operator market.

Describing it as a “housing paradox,” Escudero noted that while thousands of condominium units remain unoccupied, millions of Filipinos continue to face a housing backlog, highlighting the need to better align existing housing supply with families’ housing needs and financial capacity.

“Why build from scratch when there are already existing units that can be made available to our people?” he said, noting that available housing stock could be tapped more quickly through public-private collaboration.

Escudero, who chairs the Senate Committee on Urban Planning, Housing and Resettlement, said government and developers should explore ways to integrate excess condominium inventory into the expanded Pambansang Pabahay para sa Pilipino (4PH) Program to allow more families to acquire decent homes through existing residential units.

According to Anenias, the DHSUD already allows developers to enroll excess housing inventory under the 4PH Program, although doing so may require developers to accept lower margins or absorb losses.

“Housing is not simply a problem of supply. The bigger challenge is making homes affordable for ordinary Filipinos through financing terms they can realistically pay every month,” Escudero said.

The veteran legislator urged policymakers explore ways to lower monthly housing costs through improved financing mechanisms, subsidies and longer repayment periods, while also expanding affordable rental housing options for families not yet buy homes.

Escudero said the proposal is consistent wit  the legislative efforts being pursued by the Senate Committee on Urban Planning, Housing and Resettlement to expand housing access and strengthen the country’s housing framework.

Among these is Senate Bill No. 1992, which seeks to strengthen government’s capacity to acquire land for socialized housing and has already passed third reading in the Senate.

Escudero also recently filed Senate Bill No. 2571, which seeks to expand compliance options for developers and strengthen government mechanisms for delivering affordable housing under the Urban Development and Housing Act of 1992. 

The measure would allow developers to convert ready-for-occupancy units into accredited socialized housing units, provided these meet DHSUD price ceilings and development standards. 

Once accredited, the units may be credited toward existing or future balanced housing obligations, offering a faster route to delivering actual  homes.

Beyond housing production, Escudero said government should also pursue measures aimed at lowering the overall cost of homeownership, encourage the productive use of existing housing inventory, and improve mass transit systems so more Filipinos can live outside major urban centers while maintaining access to employment opportunities.