AFP Mutual Benefit Association Incorporation.
Prepared by: Faisah Jevah G. Dela Rosado
Within the AFP Common Benefit Relationship Inc (AFPMBAI) social objective, The Real Estate Real estate Loan (REHL) Department launches a program that allocates a housing finance for the purpose of loaning to qualified borrowers specially the AFPMBAI people and its associate an easiest method of reaching to their desire home. The Association thinks that every AFPMBAI members and their family ought to have not only a good home nevertheless also a top quality life through its cost-effective and reactive insurance safety. It is also extended to their instant associate people and non-members where they might be part of the said program.
The key goal with this study should be to conduct a thorough analytical and qualitative research about the Housing Bank loan and Mortgage Loan of the Property Department in which this will look at the casing demand in relation to the cash flow and market changes. This also discusses the issues lurking behind the current circumstance of housing program in the Philippines in which it impacts the behavior and purchasing capacity with the clients.
1 . To establish a comprehensive basis for featuring home loans to the AFPMBAI member, affiliate members and non-members.
installment payments on your To develop and enhance the Real-estate Housing Loan Department's items through innovative and very competitive marketing plans.
3. To judge and assess the existing techniques of the AFPMBAI Housing and Mortgage Loan Plan.
4. To assure efficient collection system in the Real Estate Casing Loan through standardizes types of procedures.
II. Report on Related Materials
In the Philippines, below 1/3 are able to afford proper refuge. In Metro Manila exclusively, there are three or more. 1 relaxed settlers; 23% stay in federal government land, 22% in private properties, 15% in danger zones (which range from the streets, bridges, riversides, and along teach tracks), and 40% about infrastructure sites. (GMA Media Info, 2011)
There even now exists a big problem on housing in the Philippines. Several factors influence this including financing, authorities policies and interventions, institutional subsidies, as well as the values and culture the Filipino peopleillustrate.
The Philippine housing market discloses a tremendous gap between the demand and supply of housing. Average annual casing price admiration in the Korea like Community Manila is definitely 32% per year the highest between other significant cities in Asia (Habitat and World Bank, 1993)
The substantial rate of increase in area prices is known as a major in house price gratitude (Strassman and Blant, 1993; Ballesteros, 2000). The pricey urban land in the country is due to constraints inside the supply aspect of the market segments. (Ballesteros, 2000)
First, there is a situation of poor planning and system development that limits the supply of real estate land. Second, administrative bottlenecks in area and casing developments due to contradicting property laws, not clear standards and overlapping competition cause holdups hindrances impediments in obtaining development authorization. Third, challenges on real estate rights additional increase purchase costs in land development. And lastly, the land control is highly focused and low land and property duty in the country encourages land idle. Another characteristic of the housing market in the country is the lack of long term financing to get housing which may provide a method to offset the large unit cost of housing relative to income. Like most of the growing countries, the secondary economic market near your vicinity is undeveloped. Long-term money for casing are constrained and highly dependent on money from government social security systems. Moreover, the housing financial program has become unsustainable. 1 reason is graft and corruption in the approval and release of loans in the low-income sector. It has been reported that repayments are produced to taking part housing designers with no existing...
References: Ballesteros, M. (2003), Philippine Company for Development Studies: Insurance plan Notes, " A Second Take a look at Institutional Reconstructs in the Casing Sector, Philippine Institute of Development Studies, Makati Town
Ballesteros, Meters. (2000), The Dynamics of Housing Demand in the Israel: Income and Lifestyle Effects, PIDS Analysis Paper Series No . 2002-01. Makati Town
_______________Land Use Planning in Metro Manila and the Metropolitan Fringe: Significance on the Area and Housing market. PIDS Conversation Paper No . 2000-02. Makati City
Geron, P. and G. Rabieta (2001) Estimating Effective Demand in the Real estate Sector, A summary of the Philippine Housing Sector, Asian Creation Bank. Draft Report.
Strazheim, M. (1975), " A great Econometric Examination of the Metropolitan Housing Market. вЂќ National Bureau of Economical Research, Downtown and Local Studies No . 2, Columbia University Press, New York.