Philippines' Economic Boom Ignites Home Finance Revolution: Unlocking The Door To Affordable Homeownership, Reaching A CAGR Of 12.0% By 2027. Will Philippines Stand On This Expected Figure? Ken Research

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The Philippines House Finance market is concentrated. The nature of competition is high. Philippine home finance market by banks making it moderately consolidated with competitive rivalry among the competitors. Some of the popular players are Bank of the Philippine Islands, Security Bank, Banco de Oro (BDO), Metro Bank, East West Bank, LANDBANK of the Philippines, Philippine National Bank and China Bank Corporation.

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1. Philippines' Economic Boom Ignites Home Finance Revolution: Unlocking the Door to Affordable Homeownership.

PHILIPPINES GDP GROWTH FORECAST

The development of the home financing market is significantly influenced by overall economic growth and stability. When the economy is booming, individuals have more money to spend and more confidence in making long-term commitments like house purchases. Demand for house loans is increased by a healthy economy with growing salaries and employment possibilities that encourage more people and families to think about buying a home.

2. Prepayment Surge in Philippines' Home Loans Signals Accelerated Path to Debt-Free Homeownership

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Covid-19 and increase in POGOs led to a lot of fluctuations in the real estate market before 2022, but as the market has started to recover the average repayment rate is back at 11%.

Pag-IBIG also recorded a higher performing loans ratio of 89.96% in October, 2022.

3. Attractive offers by lenders luring Filipino’s to go for house financing

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With more banks, non-bank lenders and other financial institutions entering the market, borrowers are now able to access more financing options. This increased competition has resulted in more competitive interest rates, lower origination fees, and a wider range of loan products.

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Philippines Home Finance Market

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Urban Boom in the Philippines Fuels Home Finance Market as Over 55% of Population Embraces City Life in 2022. Will Philippines continue to support Home Finance Market in future? : Ken Research

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1. Rapid Urbanization creating a demand for housing and a drive the need for home finance options.

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With a rising population and increased movement from rural to urban regions, the Philippines is rapidly urbanizing. Housing demand and the necessity for home financing solutions are both fueled by urbanization. As more individuals look for homes in metropolitan areas, the market grows and offers a range of home loan options to suit varied income levels and preferences.

Of the 109.03 Mn people living in the Philippines as of 2020, 58.93 Mn, or 54.0%, resided in urban barangays. Compared to 2015, when there were 50 Mn urban dwellers, this implies a growth of 7.20 Mn people. The remaining 50.10 Mn people, or 46.0% of the total population, were classed as rural in 2020, or those who resided in barangays that were considered rural.

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2. BALAI BERDE and EDGE: Scaling Up Green Housing in the Philippines

Green building rating systems such as IFC’s EDGE add a lot of value to residential projects on their own. However, when coupled with financial products and incentives, they present a more attractive proposition for both developers and homebuyers, promoting unprecedented growth and scale for homes that contribute to climate change mitigation.

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We’ve seen how Arthaland, as the first nonbank issuer of green bonds in the Philippines, is using the $60 Mn green bond proceeds to fund the development of their entire portfolio of EDGE-certified residential and commercial projects using EDGE as criteria, through green construction finance and green mortgages.

Then there is the secondary mortgage market, which can also be made more sustainable through green mortgage-backed securities (green MBS).

Interest in the market is growing for this partnership, with over 90,000 sqm of floor space and 3,000 housing units registered for EDGE certification in the Philippines, even before the BALAI BERDE launch.

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Philippines Home Finance Market