Gov’t Reduces Cap on Rent Hikes for Low-Cost Housing
MANILA: The National Human Settlements Board (NHSB) has reduced the cap on rental increases for residential units with monthly rates of PHP10,000 or less to a maximum of 2.3 percent, down from last year’s limit of 4 percent. The new regulation, intended to protect low-income tenants from excessive rent hikes, will be in effect from January 1 to December 31, 2025. According to Philippines News Agency, the NHSB’s decision, articulated in Resolution No. 2024-001, was adopted in December 2024 following a recommendation from the National Economic and Development Authority (NEDA). Undersecretary Henry Yap signed the resolution on behalf of the