THE Subdivision and Housing Developers Association (SHDA) 7 is targeting a 20 percent growth in the housing sector this year, an official of the group said.
SHDA 7 president Rey Ralota said the expansion of call centers in the city, the remittances of the overseas Filipino workers (OFW) and the local market have continued to become the dominating factors on the growth of the sector in the region.
“Cebu has become attractive to its neighboring provinces as they see it as their ‘second home’,” Ralota said in an interview with Sun.Star Cebu yesterday.
He said the sector exceeded its 15 percent target growth last year as member-developers reported a 17 percent growth. SHDA 7 was able to develop about 3,000 low-cost and socialized housing projects last year. These were all sold out.
Low interest rate
Aside from the big market, Ralota said Pag-ibig’s low interest rate of six percent has also helped the growing housing needs in the region last year.
“The government has been receptive to the industry. It has extended its support by helping the masses acquire their own homes with such low interest rates,” he said.
He said that the projected growth of 20 percent set for this year is a conservative forecast as the 2010 elections is fast approaching.
“We are hoping to reach that target but results of the national elections is vital,” he said.