Buying a real estate property is a big aspiration for many, whether it’s for your forever home or your investment portfolio. The key to making this goal worth every peso is to find a property that perfectly suits your needs in the right location.
Cebu has become one of the highlights for Philippine real estate, boasting the ideal environment for both homeowners and investors alike. Below are some of the reasons why Cebu is the most promising destination for investing in real estate.
In recent years, both the IT and BPO sectors have found success in the region. These industry booms have led to Cebu being ranked as the 15th most competitive outsourcing destination in the world, as per the Tholons Services Globalization Index 2020.
Aside from this, the region provides a strategic location for commercial trade through its numerous ports. On top of that, there are several infrastructure projects underway to improve connectivity and accessibility throughout the province of Cebu. The third bridge that connects Cebu mainland to Mactan Island is nearing completion. Additionally, a new international container port is set to rise in Northern Cebu soon. A new transportation system is also in the works. These infrastructure developments continue to attract local and foreign business ventures that keep Cebu’s economy booming.
Growing business and career opportunities
Cebu greatly benefits from the current administration’s Build, Build, Build initiative, with many infrastructure projects seeing rise and completion. As a result, new thoroughfares have opened up opportunities for larger industries like real estate, BPO, IT, and furniture-making. Small and medium-sized businesses and start-ups are also thriving in this environment, thanks to the local workforce’s skill level and good work ethic. Additionally, Cebu’s significantly less competitive job market makes it highly conducive for professional growth.
Local tourist spots and attractions
Even before the BPO boom, Cebu has made a name for itself as a popular tourist destination. Leisure and business intersect as the region is filled with beaches and other scenic spots within city limits or just a short trip away. Aside from these natural features, Cebu is home to rich historical landmarks like Magellan’s Cross, the Lapu Lapu Shrine, and Fort San Pedro. The region’s unique festivals, cuisine, and overall culture also play a big part in drawing in tourists and driving revenue.
Hub for local and international travel
In 2018, the Mactan-Cebu International Airport (MCIA) unveiled its second terminal to accommodate an influx of passengers from the tourism boom. The addition of Terminal 2 has raised the airport’s yearly passenger capacity from 4.5 million to 12.2 million.
This expansion also allows the airport to accommodate other airlines and connections to other countries. Records from the MCIA showed 1.4 million foreign tourist arrivals in 2018 and 2.8 million the following year, demonstrating the region’s strength as both a destination and a hub for travel.
Boom in urban developments
The demand for residential properties, commercial spaces, and office buildings in Cebu has increased significantly, with both the government and private sector working to satisfy these emerging needs. Top real estate developers have set their sights on the region, building condominiums, offices, and other urban developments necessary for progress.
Despite this modernization, the region retains its provincial atmosphere and creates a balance between metropolitan conveniences and rural living. As a result, Cebu has easily become a desirable area to move to for locals and foreigners alike.
Rising real estate property value
With the cutthroat competition in the Metro Manila property market, investors are looking towards Cebu for potential growth. As urbanization and other economic developments continue to push forward, Cebu’s existing real estate value is expected to rise in the coming years.
Not only is a condo a good investment for those looking to find a home in Cebu, but it can also be a profitable venture for investors looking towards the next big thing. Potential buyers and investors can acquire property at lower prices than in Metro Manila and eventually rent them out, creating the potential for high returns.
When planning to invest in a condo in Cebu, check out Mandani Bay. Mandani Bay is a cut above the rest, being strategically located along the Mactan Channel in Mandaue City and sitting within a highly urbanized area alongside other sites of industry and commerce. The city itself is hailed as a valuable center for trade within the Visayas region.
This master-planned waterfront property covers 20 hectares of carefully designed residential condominiums, office towers, retail areas, hotel and condotel, and large lifestyle spaces. This convergence of urban conveniences, natural vistas, and business opportunities is set to be Asia’s next urban landmark.
Mandani Bay is developed by HTLand, a joint venture by Hongkong Land, an international real estate development group, and Taft Properties, a local real estate leader in the country.
Stay Ahead and Invest in a Rising Region
The future of development has grown beyond the confines of Metro Manila and entered the spaces of other regional cities. Being the second biggest city in the Philippines, Cebu is poised to take off as the next real estate destination. It is a strong economic center outside of Metro Manila, balancing urbanization with rich cultural heritage and natural beauty.
With an increased focus on creating infrastructure and developments from both the private and public sectors, Cebu’s growth will continue for the years to come.
Invest in this rising region with the right property. Contact Mandani Bay today for more information.