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The Philippines has several investment hotspots outside Metro Manila. For investors looking to purchase property, whether for their primary residence or as an addition to their real estate portfolio, the scenic, historic, and lucrative Metro Cebu is one option. Metro Cebu comprises seven cities and six municipalities. It is one of the country’s prime metropolitan areas due to its wide array of conveniences and cultural wonders to offer to locals, visitors, and investors.
According to the 2019 data by Lamudi, the top-searched city in Visayas, in terms of buying and renting real estate properties, is Cebu City. This shows that Cebu receives a growing interest from seekers looking to invest in real estate.
Here are some of the factors that make Cebu an attractive real estate destination.
A Growing Hub of Business Opportunities
Cebu City being the top-searched city in Visayas is due to its continuously growing IT industries situated all over Cebu Business Park, where the strategically-placed Taft East Gate from Taft Properties is also located.
Lamudi’s Cebu Trend Report 2019 stated that Cebu ranked 8th in the Top 100 BPO Destinations Report by Tholons, revealing the significance of BPO industries in the booming economy of Cebu. This means seekers are attracted to Cebu due to the growing job opportunities these BPO companies offer.
The report also indicates that Metro Cebu is ideal for investors seeking to expand their portfolios outside of Metro Manila. With Cebu’s mushrooming BPO and non-BPO industries, residents in Cebu will find more job opportunities that are catered to their interests, preferences, and financial goals. This means for investors, Cebu is not only a hub of real estate supply; it is also where you can move to take advantage of a strong business economy. For homeowners, on the other hand, Cebu shows a kind of lifestyle that takes play as close to home as possible. And for OFWs, Cebu is not just a vacation destination, but also a place to put down roots and see your hard-earned money grow.
Increase in Vertical Residential Properties
The influx of seekers flocking to Cebu for greener pastures has encouraged real estate developers to expand their portfolio in these prime areas. One of the developers that offer a mix of residential and commercial spaces is Taft Properties, the name behind the microtownship Taft East Gate.
Taft East Gate’s microtownship has four towers dedicated to condominiums, offices, and hotels, brought together by the East Gate Shoppes. Above the mall podium is also the amenity deck called Sky Plaza, which gives residents an enviable view of Cebu City.
The development of such property in Cebu is in line with Lamudi’s 2019 data that showed condominium as the most preferred property type. Taft East Gate is in a unique position to provide just what the market in Cebu is looking for–a vertical development close to the residents’ place of work and to areas for entertainment and relaxation.
Recreation at Every Corner
Discerning seekers look for scenic vacation spots to escape and unwind from the pollution and the noise of the burgeoning metropolis. However, it can be a hassle to think about the travel expenses of going on their dream holiday. For OFWs, another limitation is their geographical location and work schedule that makes it a challenge to fly around the Philippines to visit local destinations.
The answer to this is simple: invest in an area that is already a tourist destination, to begin with. Cebu is a metropolitan area surrounded by many scenic spots perfect for recreation and meditation, and it also promotes overall wellness. Its rich landscape, heritage, and culture are key drivers in attracting investors, locals and even OFWs to come and explore. Seekers moving into Cebu will have the opportunity to live close to many of the city’s beach resorts and remote getaway places.
They will also have access to Cebu’s local cuisine, festivals, and heritage sites, as well as the wide array of commercial and retail establishments in Metro Cebu.
Cebu’s dynamic environment opens opportunities for investment and self-fulfillment. It also encourages more people to explore nature amidst the throng of resorts and other idyllic vacation spots, leading to more growth in industries and the economy. Overall, this continuously burgeoning metropolis offers the best of both worlds to Filipino property seekers and investors looking for new opportunities and hoping to enjoy urban comfort.