The Social Security System (SSS) has over 200 acquired properties such as houses and residential lots available for sale at flexible terms at the Housing Fair scheduled on October 16 to 18 at the SM Megatrade Hall 1, 5th Floor of SM Megamall Building B in Mandaluyong City.
May Catherine Ciriaco, SSS Senior Vice President and Officer-in-Charge of the Lending and Asset Management Division, said the SSS will accept minimum downpayments of as little as five percent for SSS properties valued at P500,000 and below, and a minimum of ten percent for SSS assets worth more.
“The housing fair helps make the dream of purchasing one’s own home within reach for Filipino employees, self-employed workers and OFWs. Among our properties for sale are huge lots with an average size of 120 square meters, which makes these more attractive to prospective buyers,” she said.
Under the Housing Fair, SSS will allow a maximum payment term of 15 years as long as the property would be fully paid before the buyer turns 65. Buyers can use cash or manager’s check for the downpayment and full payment, while those paying by installment must issue post-dated checks.
“The SSS will also offer low interest rates of six percent for properties with a balance after downpayment of P500,000 or below, and nine percent if the said balance exceeds P500,000. Buyers paying in full also get a 10-percent discount,” Ciriaco said, adding that the buyers must be Filipino citizens aged 18 to 65.
SSS properties for sale are located in National Capital Region, Baguio, Tarlac, San Pablo, Naga, Cebu, Bacolod, Davao, Cagayan de Oro and Zamboanga. It is the tenth time that SSS will join the annual Housing Fair, which is organized by the Housing and Urban Development Coordinating Council (HUDCC).
Since 2006, the SSS has sold over 2,100 acquired properties with a total selling price of P1.2 billion through the Housing Fair as of August 2015. This year’s fair, which carries the theme “Disenteng Pabahay, Maunlad na Buhay,” will feature the properties of various government agencies and private developers.
“Apart from helping the government in reducing the national housing backlog, the regular SSS participation in the Housing Fair also helps accelerate the sale of our foreclosed housing units by offering them to the public at market cost and affordable terms,” Ciriaco said.
Interested buyers must present two valid IDs and proof of income such as certificates of employment, pay slips, latest Income Tax Returns, financial statements for self-employed individuals, and job contracts for overseas Filipino workers. OFWs must also provide a Special Power of Attorney if purchasing an SSS housing property through a designated representative.
For more information, SSS members and the general public can visit the Acquired Asset Disposal and Monitoring Section of the SSS Asset Management Department at the 12th Floor of the SSS main office in Diliman, Quezon City, or call 920-6401 local 5123 or 5125. For the convenience of those outside Metro Manila, the list of SSS properties for sale will also be posted at the SSS website (www.sss.gov.ph) starting on October 16, the first day of the Housing Fair. They can also get in touch with SSS cluster offices in the provinces using the SSS branch directory posted in the SSS website and in the official SSS Facebook page (https://www.facebook.com/SSSPh)