If you are looking into housing projects lately, you may have heared your broker or the developer themselves mention this law, BP220. Here’s a quick view on what BP220 and for who it is primarily for;

1. BP 220 is short for Batas Pambansa Bilang 220, which is a housing law in the Philippines that was enacted in 1982.
2. The law aims to provide affordable housing options for low-income Filipinos in urban areas, particularly in Metro Manila and other major cities.
3. BP 220 mandates that developers set aside a certain percentage of their housing projects for socialized housing, which is sold at lower prices to qualified beneficiaries.
4. Socialized housing units are available to Filipino citizens who are either members of the informal sector or who have a monthly income of not more than Php 15,000.
5. BP 220 requires developers to submit a Housing and Land Use Regulatory Board (HLURB)-approved site development plan and a marketing plan before they can start selling their housing units.
6. The law also mandates developers to provide basic amenities and services to their housing projects, such as potable water, electricity, and sanitation facilities.
7. BP 220 provides guidelines for the construction of low-cost and medium-cost housing units, including minimum floor areas and specifications for materials and finishes.
8. The law also sets standards for the delivery of socialized housing, including the construction of access roads, drainage systems, and open spaces.
9. BP 220 allows developers to avail of certain incentives, such as tax exemptions and government subsidies, if they comply with the law’s provisions.
10. Non-compliance with BP 220 can result in penalties, such as fines or imprisonment, and revocation of permits and licenses.

Learn more about BP220 here.

If you are looking for projects that is socialized or for low-income earners, message me today to know your options.