House for Sale: Estimating Housing Demand in the Philippines
Author: Faith Lea B. Cabrera, Eleanore V. Ramos, and Mary Ann C. Magtulis
In the implementation of the research project "Revisiting the Framework in Estimating Housing Needs and Development of Data Collection Methodology in the Estimation of Housing Demand", the Philippine Statistical Research Institute devised a questionnaire "FIES Module on Housing Characteristics and Demand" to facilitate data gathering on additional housing characteristics aside from those included in the FIES questionnaire and more importantly, obtain information on indication of housing demand, or number of households who want and can afford to own a house and/or lot. This will enable policy-makers, specifically the Housing and Urban Development Coordinating Council, to determine housing demand and housing preferences in the country. The data collection of housing characteristics and demand using the instrument formed part as a module in the FIES 2018 pilot survey in Cebu City, a highly urbanized area and presumably a demand area, covering about 1,600 respondents in March to April 2017. Pilot test results can be used to characterize housing preference and to explore factors affecting a household’s decision to purchase a residential property. Some of the important factors influencing housing demand are affordability, availability of mortgages and household demographics (Pettinger 2009). Hence, this study aims to determine the factors affecting housing demand using logistic regression. Furthermore, housing preferences will also be characterized. Results of this study can serve as guide to LGUs and key shelter agencies in estimating housing demand and provide insights on its driving factors.