Demand for condos continues to grow

By: Aileen Garcia-Yap September 11,2014 - 02:53 AM

THE real estate market of Cebu, specifically the condominium units sector, continues to grow.

“From what we are experiencing in our properties, demand continues to soar, and I’m sure this is true industry-wide,” said Ramiro Espina, Primary Homes Inc. vice president.

Primary Homes Inc. has recently topped off its 25-story Mabolo Garden Flats in Mabolo, Cebu City which is already 60 percent sold out, Espina said.

The Mabolo Garden Flats is positioned as an “eco-urban” investment with the design of the building built in a way that it is more environment-friendly and efficient. It has 320 studio and small office-home office units, ideal for those who want to be near the major economic centers of Cebu.

“We target to deliver the units by third quarter of next year,” he said.

According to Espina, the buyers of their units are a mix of investors and end-users.

“Investors include the OFWs (overseas Filipino workers) who are now investing their money on real estate properties instead of just saving them on idle accounts in the banks,” he said.

For their properties alone, investors enjoy an eight to ten percent rental yield or at least P80,000 every year for every P1 million investment, he said.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

TAGS: Cebu, condo, real estate

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.