GSIS dangles new housing option for informal settlers

MANILA, Philippines — State-run Government Service Insurance System (GSIS) is encouraging informal settlers to lease housing units with option to buy as the pension fund manager owns more than 11,000 properties in the provinces.

GSIS president and general manager Rolando Macasaet said the agency is set to hold a series of summits nationwide to highlight 11,317 properties that Filipinos can rent for now and buy later on.

Based on records, at least two in every five of those units are situated in Bulacan, spread mostly in the cities of Malolos, Meycauayan and San Jose del Monte and municipalities of Plaridel, San Rafael and Sta. Maria.

Of the 4,562 houses and lots in the province, about 80 percent is occupied at present.

Macasaet said Nueva Ecija accounts for 15 percent of the units at 1,659, while Pampanga makes up 11 percent at 1,241. He added GSIS also owns 668 properties around Antipolo, Rizal: 423 in Antipolo Highlands, 171 in Cogeo Village and 74 in Bagong Nayon.

Macasaet said the provident fund has stepped up its efforts in getting its units occupied in line with its program to provide informal settlers especially the opportunity to own a house.

Under the Ginhawa for All Lease with Option to Buy program, Filipinos can rent out a property of the GSIS and will be given priority to purchase it during the lease agreement.

Further, the lease agreement is valid for one year and renewable at the option of the GSIS.

To qualify for the program, the lessee must be a Filipino citizen who is authorized under law to enter into an agreement. Likewise, the lessee has to prove that he/she has a regular source of income where rent payment will come from.

If the property is occupied, the GSIS will give priority to the current occupant to rent out the unit with an option to buy it. If the property is unoccupied, it will be open for lease to anyone qualified for the program on an as-is, where-is basis.

As of March, Macasaet said the GSIS has received a total of 1,241 inquiries and processed 932 applications for its lease with option to buy.

Prior to the upcoming summits, the GSIS gathered participants from Antipolo in November 2021 and from Bulacan in February to discuss the opportunity to own a house.