Cebu Property Market Celebrates Historic 2018

Editor: Cheyenne Hollis
Pages 12, Dot Property Magazine ISSUE 026 Q1 2019

The results from 2018 are in and it looks like the Cebu property market had a banner year. Local buyers, OFWs, and international investors were all active, scooping residential real estate of all shapes and sizes last year. In fact, Cebu property sales surpassed the expectations of many developers in the country. “The year 2018 is the best year for us compared to previous years. Our sales registered the highest since we entered the real estate business in Cebu,” AppleOneProperties’ President Ray Go Manigsaca toldPhilstar.Tourism has been a key driver of the Cebuproperty market. The opening of Terminal 2at Mactan-Cebu International Airport helped bring even more visitors to the island. The airport is located on Mactan Island and this is one area of Cebu now targeted by overseas buyers.“Mactan is a great weekend spot. It’s a short flight from many cities in Japan and SouthKorea as well as Hong Kong. The airport is right there and the beaches are 20-minutes away. And Cebu is easily accessible too,” Ryan Bernard Go, Grand Land President, toldDot Property. The developer’s Amani Grand Mactanproject has been an extremely popular choice among international investors thanks to its location and value for money. Buyers are able to benefit from Cebu’s impressive tourism growth and demand for units on Mactan Island while also being able to take advantage of the company’s outstanding property management. Another reason for the outstanding performance of the Cebu property market? The economy continues to power along. The region’s rapidly growing BPO industry has brought with it more jobs. Additionally, multinational companies continue to expand their reach in Cebu. Cebu property market not limited to small condo units unlike other cities in Southeast Asia, which are dominated by studio condo units, the Cebu property market has a diverse range of residential types available to buyers. Local developer Primary Homes has been at the forefront of this movement, creating low-density projects that reimagine condo living. An example of this is the strategically locatedAlmond Drive. The project can be found in the emerging South Road Properties district of Cebu. Almond Drive contains 182 walk-up condo units and 72 townhouses with each one featuring a modern, sleek, and elegant Asian Contemporary vibe. What’s more, all units, including the townhouse, have condominium titles. This means OFWs and international clients, as well as local residents, can legally purchase these. This is a rarity in the Philippines and has helped Primary Homes become one of Cebu’s leading developers.

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