When it comes to real estate, individuals or families are always looking to make the most of what they invested. They want a home that possesses great value for money, a rising return on investment, and is strategically located. Hence, when Cebu began implementing numerous infrastructure projects, Colliers stated that key business districts will benefit from these projects. It is from this alone that will unlock Cebu’s real estate potential.
Right now, with Cebu’s real estate potential supplementing the market’s rise, Colliers expects an increase in demand influenced by the recovery of the office market in Cebu. They expect over 10,000 condominium units to be completed by the end of the year, a vast increase from around 6,000 last year. Prices are expected to increase as well due to the demand. Colliers expects units to average around four million pesos.
An ideal real estate property would make sense financially and must be in a strategic location. With Cebu considered not only the best place to tour but the best place to live in, many individuals and families are looking to invest in Cebu’s real estate potential.
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Reasons to Start an Investment in Cebu
1. Career opportunities
With the rising local economy and looking to take advantage of the talents of the Cebuanos, many businesses have transferred to Cebu. Due to the rising number of companies in Cebu, from large conglomerates to family businesses, Cebu is starting to build their own central business district (CBD).
From CBDs alone, you now have many career opportunities open to you, from information technology (IT), business process outsourcing (BPO), and real estate.
2. Diverse ethnicities
While immigration as a whole is not as big in the Philippines as a whole, it has definitely scaled in Cebu city. In Cebu, you will find many Koreans, Chinese, Iranians, and Africans walking on the street, going shopping at a mall, or attending class.
The main benefit of a place being multicultural is high probability of viewing these people more as locals and less as foreigners. Since they look and speak differently, it gives the locals a chance to understand the different cultures, traditions, and beliefs.
If Cebu garners the reputation of being a “melting pot,” perhaps more foreigners will come to Cebu and boost the local and national economy of the Philippines. Moreover, more local communities will be built as different people try to forge relationships and partnerships with each other.
If you want to understand Cebu a bit more, it is best to start by understanding the local culture and heritage of the province. Cebu is rich in terms of history, culture, and traditions.
First, Ferdinand Magellan arrived in Cebu in the 1500s. The battle of Mactan ensued, with Lapu-Lapu killing Magellan, thereby making its mark in Philippine History. Around the province, you will find historical landmarks from the said events like Magellan’s Cross, the Santo Niño Church, and Magellan’s Shrine.
Moving on, every third Sunday of January, Cebuanos celebrate the Sinulog festival, one of the longest and most popular festivals in the Philippines. This colorful street fiesta is mostly song and dance and draws in thousands of spectators.
Read Also: Things to do when you visit Cebu
An extension of a locale’s culture is their food. Cebu has a rich history of having culinary reputability as seen in the plethora of mouth-watering dishes and delicacies.
Either in Cebu’s finest restaurants or local street food, here in Cebu will you find Puso Rice, which is boiled and wrapped in Coconut leaves, Sticky Rice with Cebu’s famous mangos, and the iconic Lechon Cebu.
Whatever you decide to eat in Cebu, it is guaranteed to be a memorable gastronomical experience.
5. World-class Infrastructures and Developments
Different infrastructures are on the cusp of completion like the Cebu Monorail Transit System, the Metro Cebu Expressway, and the New Cebu International Container Port (NCICP).
Beginning with the Cebu Monorail, it is a two-line system with one line with 14 station from Banilad to Linao. The other line is an airport line from Mactan Cebu International Airport to Country Mall.
On to the NCICP, a majority of domestic and international shipping services operate in Cebu since it is the largest port in Visayas. The completion of this will make freight-in and freight-out more efficient that you might get you package in two days.
6. Strategic real estate
Connecting the previous section to this section and as mentioned in the introduction, Cebu’s real estate potential will be boosted by the infrastructures being developed around the province. The increase in the supply and demand of the property market can be attributed to the developments making your home more accessible to schools, business centers, and basic needs.
In addition to this, being in the heart of Cebu city makes tourist destinations outside the city more accessible. Must-see tourist spots in Cebu include Kawasan Falls, Bantayan Island, the Temple of Leah, Sumilon Island, and Sirao Garden, to name a few.
7. Increasing property value and return of investment
For all the reasons mentioned above, it is no surprise that the number of people moving to Cebu is rapidly increasing. If more people are moving to Cebu, then the demand for a condominium, for instance, will increase, consequently driving up the prices of property.
Since this is the case, you should invest in property in Cebu as soon as you can. The prices of real estate are incrementally increasing so you should make that purchase now while it is still cheaper. In a short amount of time, you will have already made a profit.
An example is Bria Homes located in Danao, Cebu. A house and lot here is expected in grow not only due to the family-owned resorts in the area, Danao is connected to other cities because of a port connecting it to Leyte and Camotes, and the Metro Cebu Expressway, making it convenient to go to and from the main city area.
Making the Move
Cebu has become not only the dream tourist destination, but the dream city to reside in because of the opportunities it provides you and your family when it comes to academics, career, and the overall city experience.
To add further, the city’s rich history and culture may not only pique your interest about Cebu city but incentivize you to be a part of the them.
With more developments being planned to further improve Cebu City, more people are expected to permanently move here.
While others are still assessing Cebu’s real estate potential, you should make the decision to invest in that potential now. See this as business opportunity to grow you money and take advantage of Cebu city’s rising property values.