Home sweet home: How to safeguard women buyers

Women are a major force in the Philippine housing market, making important decisions and contributing more financially than ever before.

- By Henry L. Yap, UAP, FPIEP, EAROPH

Women are a major force in the Philippine housing market, making important decisions and contributing more financially than ever before. Even though big purchases are usually made together, women's voices are crucial in the home-buying process, and real estate professionals know this.

Studies show that many potential property buyers are women, and they have a big say in how much they spend on their homes. This is because Filipino women are becoming more financially independent. With more jobs and better access to money, women make a big difference to their families' incomes and are often seen as a way to secure their future.

When purchasing real estate, it's crucial to conduct thorough due diligence and familiarize yourself with the applicable laws. In this article, we'll explore some precautions and propose actions to address developers who fail to deliver the property on time.

SUBDIVISION AND CONDOMINIUM BUYERS' PROTECTIVE DECREE

Recognizing the vulnerability of property buyers, including women, President Ferdinand Marcos, Sr. enacted Presidential Decree No. 957, also known as the "Subdivision and Condominium Buyers' Protective Decree," in 1976. This decree aimed to safeguard and protect buyers' rights, particularly in the face of prolonged delays. It established rules and regulations governing the sale of subdivision lots, houses, and condominium units, placing obligations on developers while granting buyers crucial rights.