This document is a study of housing subsidies in the Philippines. The government has estimated that approximately 3.7 million new housing units will be needed for the period 1993-1998. Renovation and upgrading of old housing units will involve another 1.3 million units for the same period. The rapid formation of new households, especially in urban areas, has contributed to an acute demand for housing that has not been adequately met by the supply side of the market. The demand-supply gap is mostly noticeable at the lower end of the housing market as the poorer households failed to get access to decent housing. In turn, the government has intervened in the housing market to make it more responsive to demand, especially of the poor households. Government intervention consists of regulatory, production and financing measures.