Metro Manila houses among most expensive in Asia, says study

Just how affordable are houses in Metro Manila compared with other countries in Asia?

Data from the 2023 Urban Land Institute (ULI) Asia Pacific Home Attainability Index showed that Metro Manila's home affordability ratio is one of the highest or most expensive in the region after the cities in China, Vietnam, Hong Kong and Indonesia.

In a "24 Oras" report by Bernadette Reyes, the study compared the house prices in an area to a family's income.

In Metro Manila, the house prices are more than 24 times higher than the family's annual income, the report said.

"While Metro Manila allows a high FAR (Floor to Area Ratio) of 16 or even higher, it suffers from limited housing stock and poor urban transportation infrastructure for a fast-expanding number of young professionals. The government has recently embarked on an ambitious campaign to building one million homes per year for the next five years," the study said.

According to the 2020 Census on Population and Housing, most occupied housing units in the Philippines smaller than 20 square meters, while the percentage of occupied housing units with 90 to 119 square meters is the smallest.

GMA Integrated News has sought a statement from the Department of Human Settlements and Urban Development (DHSUD) on the topic.—Sherylin Untalan/LDF, GMA Integrated News