Growth Prospects of Cebu Property Market
The Cebu property market has been affected by pandemic-induced disruptions to the country’s economy.
Cebu office leasing here, for instance, remains challenging while the launches and take up of residential units were down as of the first nine months of 2020. However, we see some positive developments including the government’s anti- COVID-19 efforts, and we are optimistic that these are likely to support the growth of the region’s property market moving forward. This year, we are already seeing shifts in market preferences and these are likely to redefine the Cebu property market post-pandemic.
Cebu real estate market was the main focus of Colliers Philippines’ property webinar on Thursday. I was joined by my colleague, Colliers Philippines director for office services Dom Andaya; Innoland Development Corp. COO Charles Ong; and former CIB.O managing director Wilfredo Saa Jr. We discussed trends in the Cebu property market as well as recovery enablers. Continue Reading