Housing key players in Davao City are worried of the possible effects of the problems that hit Japan and the Middle East in the housing sector, given that many housing clients are overseas Filipino workers.
Members of the Socialized Housing Development Association, a group composed of subdivision developers in the country, sees a possible negative effect of these happenings in the Middle East and Japan because OFWs contribute much to the country’s housing sector.
The Home Mutual Development Fund or Pag-Ibig Fund released a moratorium last March 14 on the monthly amortization of OFWs from Japan, considering that most of the OFWs returning from Japan and some Middle East countries came home cashless after incidents forced them to go back home.
However, SHDA-Davao vice president Engr. Sol Lagmay sees a brighter light for the housing sector despite the catastrophes affecting OFWs from Japan and the Middle East.
He said the housing sector can still grow and expand its market with the improving economic condition of the Philippines.
SHDA schedules a housing fair next week in Davao City to further strengthen the industry and offer quality housing units to the public. [PIA 11]
