More Filipinos in Metro Manila are renting homes

More Filipino families are opting to rent homes instead of buying, especially in Metro Manila. The Consumer Finance Survey from the Bangko Sentral ng Pilipinas shows that 11.3% of families preferred renting in 2021, up from 10.2% in 2018. Renting is most common in Metro Manila, where 34.9% of families rent, compared to 10.6% in Balance Luzon. Homeownership remains high outside Metro Manila at 73.9%, while only 43.9% own homes in the capital region. The survey also revealed that home appliances are the most common assets among Filipino households, with 96.6% ownership. Mobile phones are the leading item, followed by residential properties and vehicles.