Cebu Real Estate News

Information on Asia's Best Property Market

Real Estate Group Picks 3 Cebu Cities

IT Park Cebu

The night is young. Residential and office buildings have been sprouting all over Metro Cebu, especially at the Cebu IT Park, a hub for business process management companies. (SunStar File) THREE cities in Cebu made it to a property listing site’s “Top Philippine Cities To Watch” list.

Cebu City placed first out of 10 in the list while Lapu-Lapu City ranked sixth. Mandaue City trailed Lapu-Lapu City in seventh place.

The property portal cited Cebu City as one of the world’s top outsourcing destinations in 2016, after it ranked seventh in strategic advisory firm Tholons’ as among the best outsourcing destinations in the world for its “quality workforce, relatively cheaper business cost; infrastructure network; and quality of life.”

Lamudi also underscored Cebu City’ performance of the National Competitiveness Council’s (NCC) survey where it ranked sixth most competitive based on economic dynamism, government efficiency, and infrastructure.

“Cebu is also a city to watch thanks to its considerable proximity to several of the Philippine’s best tropical destinations and affordable secondary cities,” the report added.

For the property portal, property listings in Cebu City in 2016 averaged 2,900 per month, only behind Makati (5,680), Quezon City (5,560), and Taguig (3,400).

Upcoming real estate projects that were noted in the report include Solinea by Ayala Land and Cebu Exchange by Arthaland, which are expected to boost the city’s property inventory.

Meanwhile, Lapu-Lapu City was also one of the most attractive sites due to their proximity to the capital and major cities while remaining more affordable.

Noted projects include Megaworld’s Mactan Newtown, Sta. Lucia’s Arterra Bayfront Residences and Futura Homes-Mactan by Filinvest Land.

The city, according to Lamudi, is a popular alternative to costlier Cebu City. In 2016, two-bedroom houses for sale in Lapu-Lapu City listed on Lamudi averaged P2.295 million.

Mandaue City, on the other hand, was hailed as an ideal location for home-seekers who want to invest in a home near the Visayas capital. Echoing the sentiment of Colliers, Lamudi expects condominiums in the affordable segment to rise in Mandaue City.

Lamudi described Mandaue City as “no better alternative for accommodations and real estate to Cebu City.”

Other cities recognized were Las Piñas, which ranked second, Iloilo City in the third spot, Cagayan de Oro in the fourth place, Bacolod City placing fifth, Dasmariñas in the eighth spot, General Trias, and Davao City in the ninth and tenth place, respectively.

Lamudi is a global property portal focused on emerging markets offering sellers, buyers, landlords and renters a platform to find or list properties online.

It is available in selected countries in Latin America, Asia, and the Middle East.

By JEANDIE O. GALOLO | Sun Star Cebu | January 23, 2017 

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