FridayOL

Manila Shifts to Rent-to-Own Housing Policy: A Game-Changer for Homeowners

Journal

In a significant move, Manila Mayor Honey Lacuna has announced a major overhaul of the city's housing policy, introducing a rent-to-own system that enables awardees to own their units. Previously, homeowners were stuck in a 'paying forever' situation, but this new policy offers a more affordable and accessible path to homeownership. With this change, Manila aims to provide a more sustainable and secure housing solution for its residents, aligning with the city's goal of promoting affordable housing and socialized housing programs. This shift is expected to benefit many, especially low-income families. Key terms: rent-to-own, affordable housing, socialized housing