Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2022End of 2021End of 2020SourcesVar ID
Total population 113.88 million112.19 million
WDI
A.1.1
Total number of householdsNot availableNot available26.39 million
PSA
A.1.2
Average household sizeNot availableNot available4.10
PSA
A.1.3
Urban population (% of total)Not available47.68% of total47.41% of total
WDI
A.1.4
Urban population growth (annual %)Not available2.08%2.17%
WDI
A.1.5
A.2 Economy
VariableEnd of 2022End of 2021End of 2020SourcesVar ID
GDP, current prices (U.S. dollars)404,261 USD (millions)394,086 USD (millions)361,751 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)1,171,162 USD (millions)1,017,187 USD (millions)920,938 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)3,623.39 USD 3,576.1 USD 3,325.84 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)10,497.1 USD 9,230.37 USD 8,466.84 USD
WEO
A.2.4
GDP, constant prices (Percent change)7.6%5.7%-9.52%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change)8.05%3.08%3.28%
WEO
A.2.6
GDP, deflator (Index)110.41104.707102.359
WEO
A.2.7
Consumer price indexNot available137.94132.72
WDI
A.2.8
GINI IndexNot available40.7Not available
WDI
A.2.9
Median national annual household incomeNot availableNot availableNot available
PSA
A.2.10
Median urban annual household income  6,656.1 USD/year
PSA
A.2.11
Urban minimum wages per month in USD230.18 USD  224.34 USD
NWPC
A.2.12
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Unemployed5.4%7.8%10.3%
PSA
A.2.14.3
Interest Rates:A.2.15
Central bank lending/discount rateNot availableNot availableNot available
IFS
A.2.15.1
Yield on 3 months treasury bills2.2%1.11%1.98%
IFS
A.2.15.2
Yield on 10-year Government bond  2.73%
IFS
A.2.15.3
Average bank deposit rateNot availableNot availableNot available
IFS
A.2.15.4
Lending rateNot availableNot availableNot available
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2022End of 2021End of 2020SourcesVar ID
Number of dwelling units:B.1.1
Total  22.42 million
PSA
B.1.1.1
Total Urban  2.97 million
PSA
B.1.1.2
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied units  69.22% of total
DHS 2013 Survey
B.1.4.1
Private rental units  19.3% of total
DHS 2013 Survey
B.1.4.3
Other forms of tenure   27.9% of total
DHS 2013 Survey
B.1.4.5
Estimated Number of units completed/yearB.1.5
Formal sector/registered  126,429 units
PSA
B.1.5.1
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2022End of 2021End of 2020SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4
National  212.89 USD/sq.mt
PSA
B.2.4.1


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Notes: SEDP offers a Multi-Purpose Loan that can be used for house improvement. KFI offers a housing repair group loan. Both are NGOs.
Notes: -0.36
Notes: -0.52
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average cost per sq. meter for residential constructions
Notes: Average of 1-24 months.
Notes: Average of 1-24 months.
Notes: Average of 1-24 months.
Notes: Average of 1-24 months.
Notes: Bahay Bonds were guaranteed by the HGC
Notes: CARD Bank and Dungganon Bank take deposits but are considered microfinance-oriented rural banks
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Civil Code provisions for property rights, e.g. right to possess, right to use & right to dispose
Notes: Confidentiality Rule/Marketing Strategies/Business secuts confined by Law
Notes: Confidentiality Rule/Marketing Strategies/Business secuts confined by Law
Notes: Confidentiality Rule/Marketing Strategies/Business secuts confined by Law
Notes: Dungganon Bank and Card Bank provide micro-housing loans for house improvement and renovation
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: Excludes HDMF loans
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For National Capital Region
Notes: For Pag-IBIG Fund only; minimum borrower equity requirement (maximum LTV) is bank-determined internal policy
Notes: Government controlled housing finance corporation
Notes: Government controlled housing finance corporation
Notes: Government controlled housing finance corporation
Notes: Government controlled housing finance corporation
Notes: IMF Annual Average Exchange
Notes: In national capital region only. Owned, being amortized
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, and thrift banks only
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: Includes mortgage loans from universal banks, commercial banks, thrift banks, and Home Development Mortgage Fund
Notes: low cost housing purchase, rehab and construction loans through the social security system seperatee funds for private and public wokers (HDMF); Community Mortgage Program and High Density Housing Program (SHFC)
Notes: National Capital Region only
Notes: National Capital Region only
Notes: National Capital Region only
Notes: National Capital Region only
Notes: National Capital Region only
Notes: National Rate
Notes: NHMFC only
Notes: NHMFC only
Notes: NHMFC only
Notes: NHMFC's estimate
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of approved residential building permits
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: Number of families, not households. The number is usually similar.
Notes: P20 for mortgages under P5,000 and P10 for each additional P5,000
Notes: P20 for mortgages under P5,000 and P10 for each additional P5,000
Notes: P20 for mortgages under P5,000 and P10 for each additional P5,000
Notes: P20 for mortgages under P5,000 and P10 for each additional P5,000
Notes: Pag-IBIG Affordable Housing Loan Program includes construction and home improvement
Notes: Pag-IBIG Affordable Housing Loan Program includes construction and home improvement
Notes: Pag-IBIG Affordable Housing Loan Program offers minimum and low-wage earners low interest rates of 3% for first 5 years and 6.5% for next 5 years. Max tenure is 30 years. Monthly payments as low as Php2,445.30 for Php580,000 housing loan. Max loan amount of Php750,000
Notes: Pag-IBIG Affordable Housing Loan Program offers minimum and low-wage earners low interest rates of 3% for first 5 years and 6.5% for next 5 years. Max tenure is 30 years. Monthly payments as low as Php2,445.30 for Php580,000 housing loan. Max loan amount of Php750,000
Notes: Pag-IBIG Fund only. Maximum preferred repayment period is 30 years.
Notes: Pag-IBIG is a Provident Fund with required contributions (a labor related tax) by formal sector workers
Notes: People's Credit and Finance Corporation
Notes: Provident fund, Pag-IBIG Fund, is largest source of housing finance
Notes: Real property tax 20% on residential land; 0-60% of fair market value progressive tax
Notes: Real property tax 20% on residential land; 0-60% of fair market value progressive tax
Notes: Real property tax 20% on residential land; 0-60% of fair market value progressive tax
Notes: Real property tax 20% on residential land; 0-60% of fair market value progressive tax
Notes: Rent-free
Notes: Stamp tax; P15 for transactions under P1,000 and P15 for each additional P1,000
Notes: Stamp tax; P15 for transactions under P1,000 and P15 for each additional P1,000
Notes: Stamp tax; P15 for transactions under P1,000 and P15 for each additional P1,000
Notes: Stamp tax; P15 for transactions under P1,000 and P15 for each additional P1,000
Notes: Tax exemption for interest income on housing loans
Notes: Tax exemption for interest income on housing loans
Notes: Tax exemption for interest income on housing loans
Notes: Tax exemption for interest income on housing loans
Notes: Tax rate for real property is 6%
Notes: Tax rate for real property is 6%
Notes: Tax rate for real property is 6%
Notes: Tax rate for real property is 6%
Notes: This data point takes into account NHMFC data only
Notes: This is as of Q3 2016
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Universal and commercial banks only
Notes: Written into loan application and payment process. Only protects in the event of death or disability.
Notes: Written into loan application and payment process. Only protects in the event of death or disability.
Notes: Written into loan application and payment process. Only protects in the event of death or disability.