Manila, Jan. 6 -- The government approved higher price ceilings for socialized subdivision and condominium projects, while the Pag-IBIG Fund continues to offer subsidized housing loan rates under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.

In a news release on Tuesday, the state-run housing finance agency said the updated price ceilings are meant to reflect current construction cost conditions and enable developers to deliver improved housing quality and safer standards.

The new price ceilings were issued under the implementing rules and regulations (IRR) of the Department of Human Settlements and Urban Development (DHSUD) and the Department of Economy, Planning, and Development (DEPDev) Joint Memorandum Circular No....