In 2017, 46.7% of the Philippines’s population lived in urban areas – but by 2050, that number is estimated to be 80% due to economic development and rural-to-urban migration. Aiming to construct two million new homes between 2017 and 2022, a new Department of Housing and Urban Development that will monitor and maintain records on unused land, comprehensive land use plans, and housing stock and beneficiaries. In the long term, the department aims to create an efficient environment for public-private partnerships, administering government-owned land where private developers can build cost effective units.
But in the short term, building high-quality housing efficiently, in terms of time and cost, is essential. In Manila, one way to do this has been through prefabricated housing, which has production costs that are lower compared to traditional home building. It also has a streamlined development process, so not only is housing for residents built faster, but developers see their return on investment faster.
Source:
Oxford Business Group. (2020) Emerging Markets Strive to Solve Housing Deficits amid Rising Urbanisation. OBG.