Real Estate Housing in Ilocos Sur: Its Economic Impact

Abstract

The study assessed the housing development in Ilocos Sur and determined the level of assessment of housing development; the economic impact along multiplier effects on businessmen, broker’s commission/income, and consumer expenditures; and the economic impact affecting level of satisfaction of homeowners, economic, and government policies. Data gathered were treated statistically using frequency and percentages, mean, and linear regression analysis. From the findings, conclusions are: (1) Local developers have comparative advantage; (2) The industry contributes to economic development; (3) Homeowners are satisfied with the quality of goods and services; (4) Few number of owners/developers gives higher revenue; (5) Housing development affects income opportunities; and (6) The broker’s commission/income is adequate that it sustains employability. Based on findings and conclusions, the following recommendations are forwarded: (1) Developers should continue to improve delivery of goods and services; (2) Other investors should come in to add other players to the industry; (3) The provincial government must encourage more housing developers; (4) Owners should give incentives to homeowners; (5) Owners should provide more affordable housing; and (6) Real estate owners should provide lower price for low-income earners and beginning families.