Escudero proposes adding unsold condo units to government housing program

Senator Francis "Chiz" Escudero wants unsold condominium units folded into the national government's housing program, arguing that existing real estate stock could help more Filipinos secure affordable homes, according to Mindanao Times.

Escudero raised the idea on his Chiz Wiz! podcast over the weekend. His guests were Department of Human Settlements and Urban Development (DHSUD) Undersecretary Marisol Anenias and Colliers Philippines Research Director Joey Roi Bondoc. Bondoc cited an estimated 80,000 unsold condominium units in the National Capital Region alone, many of them originally meant for the Philippine offshore gaming operator (POGO) market.

Escudero, who chairs the Senate Committee on Urban Planning, Housing and Resettlement, called the situation a "housing paradox": thousands of units sit empty while millions of Filipinos remain part of the housing backlog. "Why build from scratch when there are already existing units that can be made available to our people?" he said, adding that public-private collaboration could make such stock available faster.

He said government and developers should look at ways to bring excess condominium inventory into the expanded Pambansang Pabahay para sa Pilipino (4PH) Program. Anenias said the DHSUD already lets developers enrol surplus housing inventory under 4PH, though this may mean accepting lower margins or absorbing losses.

Escudero stressed that supply alone is not the main issue, saying the bigger challenge is making monthly payments realistic for ordinary families. He urged policymakers to consider better financing, subsidies and longer repayment periods, and to expand affordable rental options for families not yet able to buy.

The senator linked the proposal to pending measures. Senate Bill No. 1992, which aims to strengthen the government's capacity to acquire land for socialized housing, has passed third reading in the Senate. He also recently filed Senate Bill No. 2571, which would let developers convert ready-for-occupancy units into accredited socialized housing units, provided they meet DHSUD price ceilings and development standards. Accredited units could then be credited toward developers' balanced housing obligations under the Urban Development and Housing Act of 1992.

Escudero also called for measures to lower the overall cost of homeownership and for improved mass transit, so more Filipinos can live outside major urban centres while keeping access to jobs.