If there is one thing that the circumstances of 2020 and 2021 had shown, it has been that real estate–time and again–is among the most reliable investments to make in the Philippines.
As our homes functioned both as a place to learn and work, as well as to remain in good health, they proved their worth beyond their monetary value although, additionally, those of us who had placed their money into extra property/s had assets that helped better secure finances be it via rental income or profit from real estate sales.
According to the Residential Real Estate Price Index (RREPI) of the Bangko Sentral ng Pilipinas (BSP), even at the early stages of the Covid-19 pandemic when stocks and other assets dipped in value, residential real estate prices of various types of new housing units in the Philippines still rose by 27.1-percent year-on-year (y-o-y) in the second quarter of 2020. This was the highest year-on-year growth rate recorded since the RREPI series began in the first quarter of 2016.
Now while the said growth rate has since settled to more modest levels, it continues to be mostly positive, with the quarter-on-quarter growth for the second quarter of 2021 at 4.8-percent according to the BSP.
Places with more spaces (and investment potential)
Indeed, residential real estate continued to be a dependable investment, although what did change is how we view properties. In the past, the common preference was to be able to live and invest in nearby major metropolises like Metro Manila and be within convenient distance of work, school, and where needed services and other business are mostly located.
Now, locales beyond the usual big cities have garnered more consideration, thanks in large to property prices in these areas presently being comparatively lower which allows buyers to afford more room and better establish work and learning areas, whilst also being in locations that are less densely populated overall,
Despite the affordability, the growth in value in these areas is also comparatively more rapid, boding well for investors who aim to sell in the future. According to the BSP’s RREPI, the property values in Areas Outside National Capital Region (AONCR) rose by 9.6-percent in 2020, while those in the National Capital Region had a lower rate of 7.5-percent.
Investing in a Cebu home
While Metro Cebu is comparable to Metro Manila in terms of urban development and economic activity, the former’s residential sector–for the time being–continues to enjoy having comparatively lower prices than projects located within the latter. According to Numbeo, the average cost per square meter of buying an apartment in Manila is almost 40-percent higher than that of Cebu.
It is for this reason that Metro Cebu is well worth considering when in search of a place with more space, as homes here are more affordable yet still within the proximity of steady growth and development.
Granted, while homes in Cebu City itself may not be the roomiest thanks to its dense population and property prices that can rival some cities in Metro Manila, the rest of Metro Cebu is where one can likely find a residence that gives great value in terms of space, price, and still be relatively accessible to the major business districts.
A great example of the aforementioned is Amoa by AboitizLand. Located in the municipality of Compostela, Amoa is a countryside respite from the hustle and bustle of the metropolis. Yet, as part of Metro Cebu, it is only a little over 11 kilometers away from Danao City, around 21 kilometers from the city centers of Lapulapu City and Mandaue City, and no more than 26 kilometers away from Cebu City’s main business district.
A 60-hectare collection of residential villages, Amoa is replete with outdoor living space, with each enclave carefully planned to take advantage of the rolling landscapes of Compostela and highlight the locale’s sunrise views, hillside views, altitude, and proximity to the ocean.
Featuring two-bedroom and four-bedroom options, houses and lots in Amoa are also far from lacking in terms of space, providing enough room for even the largest families aspiring to settle in a Metro Cebu home. Priced competitively between Php3 million to Php5.2 million, Amoa homes give further value both through structure and quality, as well as through the security and amenities that feature in the community.
This value is projected to continually grow in the future. Despite the economic setbacks resulting from the pandemic, the outlook on residential developments in the region remains promising, with upcoming infrastructure megaprojects expected to boost the region’s economy and drive property value appreciation.
Important expressways and public mass transportation in the area such as the Cebu Monorail, Cebu Bus Rapid Transit, Metro Cebu Expressway, and the Cebu-Cordova Bridge continue to move toward completion and are expected to improve connectivity, mobility, and employment within local areas and across the province, resulting in increased land and property values over time.
This, combined with AboitizLand’s impressive record in property value escalation, all but ensures that those aiming to buy a house and lot in Cebu, whether they’re investors or end-users, have a property that significantly secures their future.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.