{"id":279731,"date":"2020-12-26T03:01:01","date_gmt":"2020-12-26T08:01:01","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=279731"},"modified":"2020-12-26T03:01:01","modified_gmt":"2020-12-26T08:01:01","slug":"residential-property-demand-in-cebu-seen-to-rebound-in-2021","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/12\/26\/residential-property-demand-in-cebu-seen-to-rebound-in-2021\/","title":{"rendered":"Residential property demand in Cebu seen to rebound in 2021"},"content":{"rendered":"
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CEBU PROPERTY OUTLOOK. Photo shows the skyline of Cebu Business Park, home to a number of residential properties, offices and hotels. Colliers International says Cebu continues to be a key investment hub outside of Manila. (Photo courtesy of cebuholdings.com via PNA)<\/figcaption><\/figure>\n

CEBU CITY\u00a0<\/strong>\u2013 Global property consultancy firm Colliers International sees a rebound in residential property demand in Cebu next year, saying the metro remains a major investment hub outside of Metro Manila.<\/p>\n

\u201cColliers projects a potential rebound in residential demand in 2021 and thus sees a faster pace of price increase from 2021 to 2022 to reflect a stronger residential market,\u201d Joey Bondoc, senior research manager at Colliers Philippines, told the Philippine News Agency (PNA) on Wednesday.<\/p>\n

Sharing his outlook for 2021, Bondoc pointed out that Cebu continues to be a premier investment hub outside of Metro Manila and has undergone significant transformation over the past few years.<\/p>\n

\u201cThe residential sector of the area is at a discount as compared to projects located within the country\u2019s capital. The proliferation of both local and national developers in Cebu has raised land and property values,\u201d he said.<\/p>\n

The property analyst said this was complemented by the rising demand for integrated communities, resort-oriented developments, and projects on the higher end of the price segments.<\/p>\n

In 2019, launches and take-up in the province reached a record-high 10,500 units and 9,500 units, respectively.<\/p>\n

Given the impact of the pandemic, launches and take-up in the first half of 2020 only reached 1,700 units and 3,100 units, down 72 percent and 42 percent year-on-year.<\/p>\n

The demand for mid-income condominium units has been driving launches and take-up in Metro Cebu.<\/p>\n

In the first half of 2020, the mid-income segment accounted for more than half of take-up during the period.<\/p>\n

\u201cThis indicates the rising purchasing power of Cebuano investors and end-users over the past few years. We expect projects under the segment to partially fuel the recovery of demand in 2021,\u201d Bondoc said.<\/p>\n

Colliers urges developers to continue serving the requirements of Cebu\u2019s end-user market.<\/p>\n

Aside from condominiums, Colliers sees that house and lot projects remain attractive among overseas Filipino workers (OFWs).<\/p>\n

\u201cAnecdotally, OFWs are one of the major drivers of Cebu\u2019s horizontal residential market as they are also the end-user. Given the impact of the pandemic, developers should also highlight their sanitation and emergency preparedness protocols. The pandemic has only raised the need to live within a building that employs strict property management procedures,\u201d Bondoc said.<\/p>\n","protected":false},"excerpt":{"rendered":"

CEBU CITY\u00a0\u2013 Global property consultancy firm Colliers International sees a rebound in residential property demand in Cebu next year, saying …<\/p>\n","protected":false},"author":44,"featured_media":279732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-279731","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-carlo-lorenciana","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/279731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=279731"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/279731\/revisions"}],"predecessor-version":[{"id":279733,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/279731\/revisions\/279733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/279732"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=279731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=279731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=279731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}