According to BP 220, what is the price ceiling for economic housing?

In the context of BP 220, which governs economic housing in the Philippines, the price ceiling is critically defined to ensure that housing remains affordable for low- and middle-income families. The correct answer is P1,700,000, reflecting the maximum selling price allowed for economic housing projects. This figure is set to ensure that the housing units remain within the financial reach of the target demographic, promoting the provision of decent shelter at reasonable prices.

The significance of this price ceiling lies in its role in regulating the housing market, preventing speculation, and securing access to housing for those in need. The specific amount of P1,700,000 is based on considerations such as input costs, economic conditions, and the aim to balance profitability for developers with housing affordability for consumers.

Understanding this price ceiling is essential for compliance with national housing policies and for ensuring that developers create viable housing options that adhere to these regulations.