NEWS

By Manila Bulletin Newsroom | Published Sep 26, 2026 08:29 pm

(From left) Paolo Borromeo, Mybelle Aragon-GoBio and Kevin Tan

Leaders of the Philippine property industry are urging President Marcos to push back the implementation of sweeping land valuation reforms to 2031, warning that higher levies risk cascading through the economy and burdening consumers amid persistent inflationary pressures.

During a meeting at Malacañang on Sept. 22, the infrastructure group of the Private Sector Advisory Council (PSAC) submitted a three-point relief proposal to give property owners and developers more room to adjust to updated property assessments.

Representing the advisory panel, Robinsons Land Corp. Chief Executive Officer Mybelle Aragon-GoBio outlined measures asking the government to defer full implementation of the Real Property Valuation and Assessment Reform Act (RPVARA) by four years to 2031.

The business group is also seeking a four-year extension of the real property tax amnesty and a temporary six percent annual cap on real property tax increases for the first three years.

“The RPVARA’s intent remains sound and necessary, and we fully support it,” Aragon-GoBio told Marcos, acknowledging his earlier directive calling on Congress to suspend the reform’s timeline.

However, she cautioned that elevated property costs would spill over into broader consumer expenses. Higher valuations could increase costs well beyond the real estate sector, impacting homeowners and placing additional pressure on households already contending with elevated living costs and global geopolitical frictions.

The council emphasized the economic multiplier effect of the sector to underscore the urgency of its request.

Megaworld Corp. Chief Executive Officer Kevin Tan, speaking on behalf of PSAC, noted that every ₱1 spent in real estate generates ₱3.44 in economic output across construction, banking, retail, logistics, business process outsourcing, and tourism.

Beyond tax reliefs, real estate executives reaffirmed their commitment to public-private housing initiatives. Ayala Corp. Chief Social Infrastructure Officer Paolo Borromeo stated that developers remain eager to work alongside the Department of Human Settlements and Urban Development (DHSUD) and other government agencies to accelerate socialized housing projects nationwide.

The advisory panel’s proposals highlight a delicate balancing act for the administration, which seeks to modernize property tax collections and bolster local government revenues without stifling private sector investment or adding to public economic strain.

Source: Manila Bulletin