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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