The real estate housing in ilocos sur: Its economic impact
Llanes Scott Jason P. DBA, FRIBA, FRIRes*
University of Northern Philippines, Quirino Boulevard, Tamag, Vigan City, 2700, Ilocos Sur, Philippines.
*Corresponding Author E-mail: email@example.com
Online published on 11 February, 2021.
The study assessed the Housing Development in Ilocos Sur and determined the level of assessment on housing development; the economic impact along multiplier effects in businessmen, broker's commission/income, and consumer expenditures; and the economic impact affecting the level of satisfaction of homeowners, economic, and government policies as the value of assessing and evaluating the real estate housing development in the Ilocos Sur Province is believed to be of great contribution since it gives room for opportunity for businessmen and would-be businessmen who are or will be engaged in the Realty Service Industry to analyze more of the challenges and/or situation of the industry. Seemingly, it benefits those who wanted to engage themselves into such kind of endeavor. Data gathered were treated statistically using frequency and percentages, mean, and linear regression analysis. From the findings, the following conclusions were drawn: (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 in 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 lesser price for low-income earners and beginning families.
Housing Development, Economic impact, Competitive strategies, Economic policies, Government policies.