Why Now is the Time to Buy a Home in Cebu City

Balancing the conveniences of cosmopolitan living with the wonders of the great outdoors is easy for residents of Cebu City

Imagine living in one of the most progressive cities in the country while still being surrounded by its natural wonders. This is what the residents of Cebu City are all too familiar with. Add to that the possibilities presented by the current infrastructure and business developments taking place in the city and you have a residential opportunity just waiting to be grabbed.

Recognized market

Cebu City comes next only to Metro Manila as a business destination. It is on par in terms of modern conveniences while retaining its distinct charm. The Queen City of the South has a great selection of hotels, restaurants, and other diverse leisure activities. It also has around 35 Information Technology (IT) Parks/Centers under the Philippine Economic Zone Authority (PEZA) currently operating within its borders and immediate vicinity. This is why it is no surprise why potential homebuyers would like to move or continue residing here.

Both private and public sectors have long been working together to decongest Metro Manila. Cebu City’s continued development is a logical push towards this direction. President Rodrigo Duterte’s massive infrastructure program “Build, Build, Build” is set to create further economic opportunities for the area. This will come in the form of three flagship projects, the first being the New Cebu International Container Port set for completion in 2020. Soon to follow are the 24.5km Cebu-to-Bohol Link Bridge and the 5.5km Cebu-Negros Link Bridge.

Imagine being able to not only access the beautiful beaches Cebu province but those of the surrounding provinces as well. There will be an added option of taking their own vehicles with them by land.

And this positive effect goes both ways. Residents of the surrounding Visayan provinces will have an easier time visiting Cebu City and enjoy its offerings. This will lead to economic multiplier effects all over Metro Cebu, as more businesses are likely to open to capture this market.

Getting better

Land prices in Cebu City have been on the rise. This will be further propelled by its steadily growing office sector, its top segments being offshore gambling, business process outsourcing (BPO), and knowledge process outsourcing (KPO).

Businesses in these industries seek to establish a presence in the most progressive metropolis outside Metro Manila. This will create a need for more employees, who will of course require housing within the vicinity. Those who own second homes and are looking to benefit from additional rental income could look into property leasing.

 For those who are still exploring the idea of buying real estate as an investor or end user, now would be the time to jump in and cater to this housing demand, or simply benefit from its property value appreciation. There are multiple preselling projects taking place in the city that are worth considering. Adding to the mix of available properties are ready-for-occupancy units, as well as foreclosures at reasonable prices.

Lamudi’s Cebu Housing Fair

There is currently no better way to have a sneak peek at the possibilities offered by the city than by visiting the Cebu Housing Fair (CHF), the first provincial leg of the housing fair series organized by leading Philippine real estate online platform Lamudi.

Why Now is the Time to Buy a Home in Cebu City - Cebu Housing Fair

Set to take place on September 8 and 9, 2018 at the Ayala Malls Cebu Activity Center, this is likely to follow the same format as the recently concluded Lamudi Affordable Housing Fair. Some of the top property developers who will showcase their current and upcoming developments are DMCI, Innoland Development, Ortigas and Company, Apple One Properties, Contempo Property Holdings, and Softouch Property Development.

Aside from learning about these brands’ projects, there is a good chance that there will be event-only discounts, giveaways, and live entertainment during this two-day affair. Banks, property management groups, and other industry-related companies will also be participating in the event.

For more details, visit the events page of the Cebu Housing Fair.

Main photo via Depositphotos

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