The homeowners in this project previously lived in bamboo structures on the shoreline, and suffered from insecure land tenure and vulnerability to natural disasters such as typhoons. As part of the project they were offered micro mortgage loans to purchase the new houses. The loans, which are managed by PACSII, have repayment period of up to 15 years and an interest rate of just 6% per annum.
1.5 hectares was donated to PACSII for resettlement, on which 20 homes were completed and equipped with water, sanitation and energy. Interlocking compressed earth blocks (ICEB) were used as the primary building materials, which makes construction cheaper as well as providing an eco-friendly element by being completely carbon neutral.
|Description||Type||Number Expected||Number Completed||Unit Size (m2)||Sales Price |
|Monthly Cost |
|Loan Length (months)|
|2 storey incremental Row House, 40m2 on a 32m2 plot||Basic||20||20||40||124000||1400||180|
|Finance Description||Finance Source||Deposit||Interest Rate (%)|
|2 storey incremental Row House, 40m2 on a 32m2 plot||PACSII||12,300||6.0|
Based on exchange rate on 31/12/2020
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Data last updated on 10/03/2021