Under RA 7279, how is "affordable cost" defined?

The definition of "affordable cost" under RA 7279 focuses on a price structure that aligns with the financial capabilities of individuals or families while addressing their needs. This means that the "affordable cost" is not simply about the market price or excessive valuations; rather, it takes into consideration what potential buyers can realistically afford based on their financial situation.

This definition encourages a practical approach to housing and land acquisition, ensuring that affordability is accessible to a broader segment of the population rather than being reserved solely for those with higher incomes. Thus, it promotes equitable access to housing and land for low-income families and individuals, thereby supporting the overarching goals of RA 7279, which aims to provide security of tenure and accommodate low-income housing.

In contrast, the other options focus on different pricing concepts that do not align with the spirit of affordability as laid out in the law. For instance, some options might emphasize market averages or appraisals that do not factor in personal financial capability, leading to a definition that may not effectively serve the intended audience of RA 7279.