The Private Sector Advisory Council’s (PSAC) infrastructure group wants the new valuation rules pushed to 2031, along with a longer tax amnesty and caps on increases that could soften the impact on property owners as land values are updated.
“The industry is committed to continue supporting the government’s socialized housing program and we see a great opportunity to partner with DHSUD and other government agencies in providing more affordable housing for our fellow Filipinos,” Ayala Corp. chief social infrastructure officer Paolo Borromeo said in a statement from PSAC.
Putting the brakes on property taxes
During a Sept. 22 meeting with Marcos at Malacañang, the council laid out three measures aimed at giving the property sector more time to adjust:
The council put the economic stakes behind its appeal, estimating that every P1 spent on real estate generates P3.44 in economic output across construction, banking, retail, logistics, business process outsourcing and tourism.
Construction alone employs about 4.7 million Filipinos, or 9.6 percent of the workforce, while real estate contributed 5.8 percent of gross domestic product in the first quarter of 2026, below its 6.65-percent average in 2018 and 2019.
Unsold condos meet housing gap
PSAC also proposed using existing higher-priced, ready-for-occupancy condominium units to help reduce the country’s estimated 3.7-million-unit housing backlog, with developers offering substantial discounts in exchange for incentives or credits toward balanced housing requirements.
It wants socialized housing price ceilings adjusted within 2026 rather than waiting for the scheduled December 2027 review, citing rising construction costs.
AI also lands on the table
PSAC lead convenor and Aboitiz Group president and CEO Sabin Aboitiz called for closer government-private sector collaboration as policies on property and housing ripple through families, employment and investment.
The meeting also tackled a proposed National AI Implementation Task Force focused on risks and opportunities for the IT-BPM workforce, as well as the government’s lifting of the Philippine Economic Zone Authority moratorium on IT centers and parks in Metro Manila.
—Edited by Miguel R. Camus
