Here are our expert condo buying tips to help you make an informed decision when purchasing a pre-selling condo in Cebu.
Whether you are a seasoned investor or a beginner, investing in real estate can be profitable. You can generate a stable cash flow from renting your property or sell it at a profit in the future. If you purchase a unit at an opportune time and sell it when demand is high, the property value will have appreciated over time. Your passive income from rentals may also even increase as rent prices can go up over time.
However, is a condo in Cebu a good investment for you? Take note that Cebu is fast becoming one of the top real estate markets in the Philippines, thanks to the region’s strategic location, booming tourism industry, promising infrastructure developments, and robust economy.
The region affords you the advantages of living in a modern metropolis while having the serenity of the countryside and Cebu’s famous beaches at arm’s reach. Additionally, even though Metro Cebu is as urbanized as Metro Manila, the cost of living in Cebu is relatively lower.
Why Invest in a Condo in Cebu Now?
Now is the perfect time to consider real estate investments in Cebu, particularly high-end condominiums. In fact, industry reports project a 4% growth in condominium prices starting in the second half of 2020. More notably, the demand is expected to rise over the next three years.
Below are more reasons to consider investing in a Cebu condominium today:
- Re-emerging Travel Destination
Cebu has a global reputation for being a world-class tourist destination, with its rich culture and idyllic tourist attractions. However, the pandemic and strict public health and safety measures have made it near impossible to travel in 2020.
Fortunately, as the vaccines for the virus begin to roll out, Cebu is anticipating a rise in demand for tourism. Coined as “revenge travel,” the movement is expected to help local destinations like Cebu revive their tourism industries. The upcoming revival of Cebu’s tourism industry will further boost the region’s economy.
- Continuous Infrastructure Boom
At the beginning of the current administration, Cebu has been the center of the “Build, Build, Build” infrastructure projects. These projects have contributed to the region’s economic boom by attracting local and foreign business ventures.
Investors can look forward to major infrastructure projects to open up future business and development opportunities. These include infrastructure projects that will further improve the accessibility of the region.
The Cebu-Cordova Link Expressway (CCLEX) is nearly complete, creating a third bridge connecting the Cebu mainland to Mactan Island. The Metro Cebu Expressway is scheduled for completion in 2022, while the Bus Rapid Transit is starting partial operations this year.
These infrastructure and transportation developments will help keep Cebu’s economy thriving in the years to come. Indeed, investing in a condo in Metro Cebu, a center for trade and commerce, opens you to countless financial and social opportunities.
- Pandemic Property Price Drops and the Forthcoming Rise of Demand
With the austere restrictions on public spaces and transit, the shift from on-site to remote work setup greatly impacted the demand for commercial and residential properties. These changes forced developers to make price adjustments.
These price cuts provide prime opportunities for investors, as acquisition costs are at some of their lowest. Those who will invest now may enjoy the projected 4% price growth during the latter half of 2020 and the rise in demand over the next three years once they sell or rent their units.
As such, investors can expect a surge in property value with the anticipated developments and recovery of the region and enjoy bigger returns on their investment.
- Optimistic Post-COVID Growth
Despite the drop in prices in condominiums and other developments, Cebu’s post-COVID real estate growth outlook is optimistic. Thanks to the major infrastructure projects cropping up in Metro Cebu, the city is expected to see a 5% annual growth in condo prices from 2022 to 2025.
As a vital hub for business and commerce in the region, buying Cebu condo properties now can provide investors with the opportunity to lease or sell at a much higher profit in the coming years.
- Strong Real Estate Rebound Estimate
In the latest real estate statistics, COVID-19 forced a drop in sales due to community quarantines and lowered demand for commercial and residential spaces. However, experts believe that this may only be a temporary setback.
The Philippine Central Bank anticipates a strong rebound in the market, with an estimated 7.8% growth. As a result, the demand for real estate properties—especially in emerging metropolitan areas like Cebu—is projected to rise in the next three years.
This demand will be supported by overseas Filipino worker remittances and the easing of pandemic restrictions following the COVID-19 vaccine rollouts.
Invest in the Future with Mandani Bay
As Cebu continues to establish itself as a center of trade and culture, investing in the right property in the region is key to reaping the full benefits of your property.
Mandani Bay is a waterfront, multi-use development located along the Mactan Channel in Mandaue City. This 20-hectare master-planned property aims to encapsulate the city’s essence as a key destination for lifestyle and commerce. Investing in Mandani Bay’s luxury condo in Cebu is an investment in a future of bigger opportunities at the heart of development.
Ripe Investment Opportunities Await in Cebu
With the region’s economy on the fast track to recovery, the real estate market in Cebu is on its way to bouncing back. With promising forecasts, investing in a condo in Cebu today can prove to be an excellent way to see your money and opportunities grow.
For more information on luxury condo units in Cebu, contact Mandani Bay today.
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