Residential demand in Cebu is likely to pick up this year

Residential demand in Cebu is expected to increase this year with lower real estate prices and key infrastructure projects driving the market forward. The city has been the preferred investment destination outside of Metro Manila and that trend will continue in 2021.

“Colliers projects a potential rebound in residential demand in 2021 (in Cebu) and thus sees a faster pace of price increase from 2021 to 2022 to reflect a stronger residential market,” Joey Bondoc, Colliers Philippines Senior Research Manager explained to the Philippine News Agency.

He continued, “The residential sector of the area is at a discount as compared to projects located within the country’s capital. The proliferation of both local and national developers in Cebu has raised land and property values.”

Research from Colliers Philippines found that new project launches and take up both fell in 2020 due to the COVID-19 pandemic. However, the consultancy believes both will recover this year on the back of strong residential demand in Cebu.

What’s driving residential demand in Cebu?

Two key factors have been responsible for driving residential demand in Cebu over the past ten years. Firstly, home prices are significantly less than those in Metro Manila which is appealing to buyers. Secondly, a number of infrastructure projects will improve the region’s connectivity and boost property prices in the future.

“Over the past few years, we have observed the transformation of Cebu’s skyline with large-scale residential, commercial, retail and hotel developments. The property boom in Cebu offers an alternative metropolitan-paced business lifestyle at a discount to Metro Manila,” Bondoc stated.

Several key infrastructure projects remain in the pipeline and these could support the growth of the Cebu and Davao property markets. In Cebu, the Cebu-Cordova expressway, Cebu bus rapid transit, Cebu monorail, and Metro Cebu expressway are a few of the possible improvements.

(c) https://www.dotproperty.com.ph/blog/residential-demand-in-cebu-likely-pick-year

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4 things OFWs need to know before buying property

There are still overseas foreign workers (OFWs) are buying property, although the number is less than it had been in previous years. Attractive investment returns coupled with affordable real estate prices in the Philippines have seen OFWs become increasingly active in the country’s property market. And with prices falling and discounts widely available, OFWs with cash in hand may be able to take advantage of some favorable deals.

However, preparing for the property buying process isn’t always easy if you’re an OFW. Burning vacation days flying home to search for and purchase a property isn’t ideal. That is valuable time you could be spending with friends and family. But if you’re prepared, buying real estate in the Philippines from overseas doesn’t have to be troublesome. Here are five things OFWs need to know before buying property.

1) Start your search

If you are living outside the Philippines, there are a number of websites where you can search for properties back home. For example, Dot Property Philippines – the very website you’re on – has the country’s best selection of real estate spanning the entire country. You can search for a property based on your budget, location and multiple other factors making easier to find the right condo or house no matter where in the world you happen to be.

2) Pick the right seller

These days, some property developers and real estate agents specialize in working with OFWs. If you want a smooth process, it is best to find one of these sellers. Not only can they advise you on common issues OFWs must deal with, but they may also be able to facilitate a deal that doesn’t require to be in the Philippines.

3) Get your documents ready

Don’t procrastinate getting all the necessary paperwork ready. If you want to buy a property, you will need to have all of these documents:

  • Signed and consularized Special Power of Attorney (SPA)
  • Photocopy of important IDs (passport, driver’s licenses, etc.)
  • Proof of billing of utility bills
  • Proof of income
  • Tax Identification Number (TIN)
  • Certificate of employment

4) Understand how the property will generate income

Chances are, you want your property to generate income while you are overseas. Maybe you are planning to have family live there and this isn’t a concern for you. But if that isn’t the plan, someone will have to manage your property in order for it the generate rental income. It’s important to understand how this will work before you buy.

A number of condo developers now offer property management services meaning they will find someone to rent your unit and take care of it for a percentage of the revenue generated. Alternatively, the are several companies who can do this as well. Whatever you decide, make sure you have done your research ahead of time to ensure you aren’t stuck with an empty property.

lifted from: https://www.dotproperty.com.ph/blog/4-things-ofws-need-know-buying-property?utm_source=ActiveCampaign&utm_medium=email&utm_content=4+Things+OFWs+Need+To+Know+Before+Buying+Property&utm_campaign=DP+Philippines+Newsletter+24FEB2021&vgo_ee=jwsNAJBEZx3iDwqabbNmVdSYFmrMikCwlKFARSZoYAo%3D

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4 Reasons Why Your Ideal Residence is in a Mixed-use Development

astra condominium

Last Updated on July 1, 2020

When buying a property during this pandemic, the overall environment is one of the key factors that home seekers are now looking for. With the expectation that a similar situation may happen in the future, the address becomes as important as the actual home. 

A crisis-ready neighborhood with access to essentials; a place where you can work, play, live and shop; a community that provides access to all your needs yet keeps you close to the hustle and bustle of the city. You want a home that allows you to embrace a lifestyle that offers everything within reach and mixed-use developments are the answer to the current dilemma of homebuyers in this age of quarantines, lockdowns, and border controls. 

Mixed-use developments are exactly what they sound like: they’re a type of development that blends residential, commercial, and leisure spaces into a single location. It features a cross-section of a community where people gather to work, live, and thrive.

These types of developments provide a more comfortable work-life balance for its residents, reducing the need to go far for work or recreation, as the residents can do work, social and personal activities right inside the mixed-use community. During a pandemic, it provides security and convenience. After a crisis, it rejuvenates the different components within the community.

All-in-One Living

One of the very few key projects in Cebu that provides a holistic life approach in mixed-use developments is Astra Centre located in AS Fortuna St., Mandaue City, the city’s commercial and leisure center.

It features residential and office spaces, as well as a lifestyle mall and a hotel. Once completed, you’ll see a modern and upscale design. With its unique features, such as a multi-deck, bold canopy, punched windows, and articulated glass, Astra Centre sets a standard for other mixed-use developments in the metro that boasts of being a future-forward development.

With stunning amenities within the community, as well as a promising location, future dwellers can experience a modern, dynamic lifestyle in which they can live, work, and thrive, all in one place.

There’s really no surprise in how future-forward Astra Centre is, given that it’s a brainchild of the leading VisMin real estate developer, Cebu Landmasters, Inc. (CLI). If you’re keen on moving to a new neighborhood, one that is crisis-ready, this CLI project is worth considering. These are the various spaces you can expect in the development

Residential Spaces

One Astra Place is the residential component of Astra Centre, featuring 28 floors and a range of exciting leisure amenities. Residents will have access to the infinity pool, kiddie pool, jacuzzi, and function halls. You’ll be able to use the fitness gym, al fresco areas, and sky deck, among other facilities. 

astra centre cebu

When it comes to unit types, you have plenty of options. The studio units range from 22.64 sqm to 23.61 sqm, equipped with sleeping area, toilet, and kitchen. The one-bedroom studio units, meanwhile, have 36.56 sqm to 47.05 sqm floor area, featuring a sleeping area, living room, dining area, toilet, kitchen, and vestibule.

One Astra Place is pre-selling with a few units left available. The expected turnover of the condominium will be in September 2024.

1 bedroom condominium in astra centre cebu

Retail Spaces

With a two-level lifestyle mall, Astra Centre will feature indoor and outdoor retail areas, covering dining and entertainment amenities. Redefining the whole retail experience, Astra Centre’s lifestyle component will provide an opportunity for people to gather, stroll, and socialize. 

Residents will find it more convenient to shop for their essentials in the grocery and convenience stores, catch up with friends and loved ones in the wide variety of dining and restaurants, and bond with friends through leisure activities like watching a movie in a state-of-the-art cinema.

Aside from good social well-being, your physical health improves as well. The proximity to grocery stores, boutique shops, and restaurants promotes walking, making the active lifestyle second nature to you.

commercial spaces in astra centre

Office Spaces

Astra Centre will house an office building that has 15 levels of premium spaces. All kinds of enterprises including business process outsourcing can benefit from the synergy of the 4-in-1 development. Whether you’re an entrepreneur leading a start-up or if you’re part of a large corporation, this community will provide convenience to the employees with stores and shops within a stone’s throw away offering a wide variety of goods and services. 

Residents working within the community can eat at nearby restaurants while business travelers can stay in the hotel adjacent to their office. Proximity to recreational activities or gyms can help keep employees and residents healthy, happy, and productive. 

astra centre condominium in mandaue

Hotel 

The first Radisson RED hotel in the country with a ‘’lively and flexible’’ hotel concept is unique with its upscale service and future-forward smart technology attracting the tech-savvy and millennial travelers. One unique feature is the Radisson RED app where hotel guests will have the convenience of digitally checking in, enabling them to head straight to their room by unlocking the door using their smartphone and not needing to go to the reception.

Radisson RED will house a 146-room with different amenities that the guests can enjoy such as pool deck, pool bar, gym, lounge, sauna & spa, meeting rooms, and events area. 

The presence of Radisson Red in Astra Centre makes it a more luxurious destination, proving beneficial for both residents and businesses in the mixed-use development. Residents can, once in a while, indulge in a staycation. Entrepreneurs can provide upscale accommodations to their colleagues coming to town. Retailers will find a steady stream of shoppers from hotel guests. This one-stop-shop and work, play and stay feature provides a good flow of overall guest experience. 

radisson red cebu

Live, work, and thrive where work, life, and leisure are brilliantly intertwined. Make One Astra Place your future address and reserve a unit today! 

Original Article: https://www.lamudi.com.ph/journal/ideal-residence-mixed-use/

FULL DETAILS & COMPUTATIONS : https://gabrielrealtybrokerage.com/?property=one-astra-place-tower-2

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