For the first time in many, many years, both metaphysical and scientific beliefs agree to the mysterious boom of real estate sector in Cebu, where everything conspired to sweep off impressions of near future property in Cebu bubble or burst.
Cebu is heading to bigger and exciting development. It offers great value of investment for those who would like to make their money grow because of the very positive growth index.
The investment climate in Cebu is very conducive, I see development everywhere, ”said the country’s “father of real estate” Dr. Eduardo Ong. This factual insight alone weakens the fear of some industry observers and even buyers who are glued to base their speculations on the traditional route of a 10-year life cycle of real estate industry.
Ong’s realistic view on the sector’s sustainable strength, is confirmed by renowned geomancer and feng shui master Francis Gaw, saying while the 10-year cycle in real estate has to happen, market burst is unlikely to take place given the current positive indications of the sector. However, market softening may be anticipated in the short term, but hitting the bottom is by far unreasonable.
Gaw’s extra sensory gift has gained for him the trust of businessmen around the country and abroad.
He has been sought out for annual consultations and psychic advice by, among others, high-ranking politicians, big conglomerates, major real estate developers and hotel chains. Clearly, Cebu is seen to surpass the predicted slowdown in real estate, believed to happen starting next year. Its movement has been showing extraordinary agility that could sustain for longer term.
This is contrary to what some experts and economic analysts are projecting that the economy in general will follow its natural 10-year cycle, wherein a major bump is predicted. Cebuano real estate educator and property specialist Dr. Tomasito. Academia, believe this to be true, saying that the regardless of this natural economic rhythm, Cebu’s real estate will continue to move profitably.
“Cebu’s property market is not projected to follow the natural flow of economic cycle, which is expected to hit next year,” explained Academia, who is also a professor of real estate management.
Real estate sector is the first and in the forefront segment of the economy that will suffer the brunt of a cyclic economic movement. From its upswing kick commenced in 2007, the cycle is seen to spiral down in 2017. “That’s the natural cycle.”The cycle’s footprint can be freshly recalled since the last two decades. From the Asian regional economic crisis happened in 1997, followed by the United States in 2007, exactly 10 years after.
“Cebu is the last to fall, and the first to rise,” said Academia giving hope that although this cycle may hit in some angles in the economy, Cebu’s strength in real estate is seen to withstand external interventions.
Similarly, property analyst Nicolas Pimentel said that despite the influx of big and small property developers pouring billions of pesos changing the landscape of real estate, Cebu is far from being saturated.“Cebu’s real estate industry is amazingly following a unique growth path, and is not taking the same cyclic pattern we observed in developed cities,” said Pimentel.
Pimentel who has been a hands on player in Cebu’s real estate industry for couple of decades now, added that the well-known resiliency of Cebuano’s may have influenced the sector’s growth trail, as room for more projects is still huge, regardless of the seemingly limited land area being an island province.If a traditional cycle in the real estate industry were to be followed, Cebu is nearing to hit the bubble and it could burst in short possible time.
However, Pimentel said outside observers are even surprised of how Cebu was able to sustain the property growth up until now. While rosy projections are still on track.
Metaphysically, Pimentel believes that the geographical location of Cebu, being in the center of the Philippines, somehow creates the magnet pull, that everything has to pass through island. Ong, on the other hand, explained that the 10-year cycle is believed to be present in the situation where all the indicators are moving contrary to one another. There is no clear pattern, however, of the 10-year boom-and-bust cycles in the real estate market.
In his opinion, Ong said the price rises and decreases depending on the movement of the market and the state of the overall economy. He is certain that the real estate industry in Cebu will continue growing and develop in the next 10 years considering so many favorable factors. The real estate in Cebu is booming. It is one of the fastest emerging real estate markets in the country.
I see the sky scrapper and skylines are rising to a greater proportion. Development extends to the north, east, south, and west of Metro Cebu, prominently in the South Road Properties area up to Cordova in the south. New developments and great expansions are coming to Cebu in the next coming years. “Ong further re-affirmed his positive industry outlook.
Realistically, Cebu’s wealth in natural resources, positive business climate, friendly people and its position as melting pot in the Visayas region are few of the hard-to-beat charms that make Cebu highly immune to external growth distractions.
Its magnetic lure is sealed further in the strategic location of the province, where everyone desires to live, to do business in, to raise a family, and for some to get rich!
“Without a good location the best numbers and the best data will quickly become irrelevant when buyers show no interest in the property. Price and location oftentimes will go hand in hand with buyers. Surely, price is nice, but location is always better. It will dictate everything else in the transaction and with the property.
One may pay a little more, but to buy a property in a better location means more profitable options down the road, “Ong added.
“The real estate in Cebu is booming. It is one of the fastest-emerging real estate markets in the country. I see the skyscraper and skylines are rising a greater proportion.”Like any other desirable places, Cebu is not spared from the plains of urbanization, manifested in traffic, occasional flooding, among other infrastructure issues.
But these are the natural side effects to a growing economy. Ong said in the case of Cebu, these imperfections are always tainted by conducive business climate, beautiful and friendly culture, and its inspiring strength in hospitality.
The tourism edge of Cebu, as a vacation mecca, the gateway to world known tourism spots in the Philippines, and its world-class beach and resort facilities are another powerful lures why people from all over the world pick Cebu as their second home or retirement haven, much less-a holiday destinations.