NCR Wage Hike Could Increase Living Costs in Gated Societies
Worker unrest in the National Capital Region (NCR), coupled with a substantial rise in minimum wages, is projected to increase living expenses in gated housing societies, escalating construction costs already burdened by geopolitical tensions, according to industry leaders. Facility management companies that oversee residential complexes are likely to transfer the burden of higher labor costs to residents through increased maintenance fees. Meanwhile, developers are grappling with the dual challenge of soaring property prices, which have already dampened home sales, leaving limited room to absorb additional financial pressures. “The rise in minimum wages coincides with existing multiple cost pressures. We’re observing…