{"id":12964,"date":"2016-05-13T18:51:51","date_gmt":"2016-05-13T11:51:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cebu-and-iloilo-find-increasing-favour-with-young-real-estate-buyers\/"},"modified":"2016-05-13T18:54:49","modified_gmt":"2016-05-13T11:54:49","slug":"cebu-and-iloilo-find-increasing-favour-with-young-real-estate-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cebu-and-iloilo-find-increasing-favour-with-young-real-estate-buyers\/","title":{"rendered":"Cebu and Iloilo find increasing favour with young real estate buyers"},"content":{"rendered":"


\nBuoyant growth is happening in the Visayas because of the robust BPO sector
\nIloilo City (Photo by Bernardo Arellano III)
\nIn Part Four\u00a0of this\u00a0five-part series, take a look at the emerging real estate industry\u00a0in\u00a0the Visayas region
\nOne of the reasons for the current strength of the Philippine real estate market is the booming business process outsourcing (BPO) sector. Metro Manila recently edged out India as the biggest BPO market in the world and major cities in the Visayas such as Cebu and Iloilo are poised to benefit.
\n\u201cCebu has progressed into an alternative BPO location,\u201d says Michael McCullough, managing director of KMC Mag Group.
\nHe credits the entry of outsourcing companies for the transformation of Cebu\u2019s office sector. Manila-based developers like Arthaland, which recently announced plans to introduce green office spaces in Cebu, have great confidence in its growth potential.
\nWith this development comes a shift in the preference of residential investors with buyers transitioning towards condos instead of houses.
\nVertical properties in Cebu sell for an average of PHP96,000 (USD2,033) per sqm, which is certainly lower than those in Metro Manila\u2019s most prime areas. In spite of this, the existing inventory in far-flung areas of Metro Cebu isn\u2019t appealing to buyers, possibly because of worsening congestion problems.
\nFinding increasing favour with buyers is Iloilo City, another hub for the outsourcing industry.
\nLamudi.com.ph\u2019s managing director Jacqueline Van den Ende calls Iloilo a \u201cbuoyant growth city especially for the BPO sector owing to a high number of college graduates.\u201d
\nThe condo market is also diversifying in Boracay, but many locals have voiced their fear that overdevelopment could destroy the island\u2019s future. Megaworld\u2019s Global-Estate Resorts Inc, whose 150-hectare Boracay Newcoast project won at the Philippines Property Awards 2015, has taken steps to implement environmentally conscious urban planning to preserve the area and appease islanders.
\nCome back for Part Five.
\nMore and more real estate buyers in the Visayas prefer condos to landed houses
\nIf you\u2019re thinking of buying real estate in the Visayas:
\nPros: Abundant office space, especially in Cebu and Iloilo; capable English-speaking, diverse young population; lots of cultural activities
\nCons: Worsening congestion problems in Metro Cebu; usually first area to be hit by typhoons; resort areas like Boracay are prone to overdevelopment
\nWhat to buy for\u2026<\/p>\n

Affordable: AppleOne Banawa Heights
\nDeveloper: Apple One Properties Inc
\nUnits: 1,316
\nSize: 30 sqm (avg.)
\nPrice: PHP2.5 million (USD53.270) (avg.)
\nCompletion: 2016
\nDistinguishing features: A one-of-a-kind project located in Cebu Business Park, this development features a four-level car podium, five swimming pools, \u201cpocket parks,\u201d and an upscale roof deck restaurant<\/p>\n

Mid-end: The Persimmon Studios
\nDeveloper: AboitizLand Inc
\nSize: 24-26 sqm (avg.)
\nPrice: PHP1.8-2.6 million (USD32,000-55,400) per unit
\nCompletion: Q2 2016
\nDistinguishing features: Located in the heart of the city and surrounded by an Asian contemporary-themed commercial neighbourhood dubbed Cebu\u2019s first urban village<\/p>\n

High-end: Boracay Newcoast-Oceanway Residences
\nDeveloper: Megaworld Corporation and Global Estates Resorts Inc (GERI)
\nUnits: 993
\nSize: 250 sqm (lots), 36 sqm (condo) (avg.)
\nPrice: USD1,000 per sqm (lots), USD3,600 per sqm (condo)
\nCompletion: 2015 onward
\nDistinguishing features: The Mediterranean-inspired tropical enclave is reminiscent of Santorini will become one of the landmark, mid-rise developments on the popular resort island
\n
\nSource : property-report.com
\nRead more…Cebu and Iloilo find increasing favour with young real estate buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Buoyant growth is happening in the Visayas because of the robust BPO sector Iloilo City...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-12964","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3n6","jetpack-related-posts":[{"id":9888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cebu-expert-to-discuss-emerging-markets-at-property-report-congress\/","url_meta":{"origin":12964,"position":0},"title":"Cebu expert to discuss emerging markets at Property Report Congress","date":"April 4, 2016","format":false,"excerpt":"\r Jose Soberano III of Cebu Landmasters Inc will impart his local market knowledge at the high-level conference in Makati As we countdown to the Property Report Congress Philippines 2016, we\u2019ll get to know the respected market leaders who will speak at the conference on 7 April at the Fairmont\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":596,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/philippine-developer-cashes-in-on-cebus-green-office-market\/","url_meta":{"origin":12964,"position":1},"title":"Philippine developer cashes in on Cebu\u2019s green office market","date":"December 29, 2015","format":false,"excerpt":"\r The \u2018Queen City of the South\u2019 is now the country\u2019s second largest BPO hub Cebu IT Park by Cebu Holdings Manila-based developer\u00a0Arthaland has officially entered the Visayas-Mindanao market with the recent announcement of\u00a0their latest acquisition of a prime office property in the Cebu IT Park in Cebu City, reports\u00a0The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2015\/12\/cebu-it-park-arthaland-845x410.jpg?fit=845%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18648,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-spreading-the-wealth-is-good-for-the-philippines\/","url_meta":{"origin":12964,"position":2},"title":"Why spreading the wealth is good for the Philippines","date":"July 5, 2016","format":false,"excerpt":"\r Duterte\u2019s campaign of decentralisation could reinvigorate the Philippine property market Cebu city, one of the Philippines secondary markets. Image credit: George Parilla (Flickr) With the inauguration of a new president from the provinces, wealth could soon be spreading more evenly throughout the Philippines. In a press briefing early in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nominations-for-5th-philippines-property-awards-2017-gather-momentum\/","url_meta":{"origin":12964,"position":3},"title":"Nominations for 5th Philippines Property Awards 2017 gather momentum","date":"February 2, 2017","format":false,"excerpt":"\r Outstanding real estate developers and projects in Mega Manila, Cebu, Davao and key resort and BPO office locations are waiting to be recognised Media briefing for the 5th PropertyGuru Philippines Property Awards 2017 held on 1 February in Makati City Deadline for submissions is on Friday, 3 March 2017\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42605,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-trump-to-blame-for-this-philippine-property-chill\/","url_meta":{"origin":12964,"position":4},"title":"Is Trump to blame for this Philippine property chill?","date":"February 2, 2017","format":false,"excerpt":"\r Signs that \u2018America First\u2019 is putting\u00a0office real estate in the country last An IT Park in the city of Cebu, Philippines. Kim David\/Shutterstock Only a week after being sworn into office, US President Donald Trump signed executive orders that impose extreme vetting procedures against citizens of predominantly Muslim nations,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27719,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-dutertes-federalist-policies-could-diversify-the-philippines-property-sector\/","url_meta":{"origin":12964,"position":5},"title":"How Duterte\u2019s federalist policies could diversify the Philippines\u2019 property sector","date":"September 29, 2016","format":false,"excerpt":"\r Although notoriously politically incorrect, the leader of the Philippines\u00a0is more nuanced than his brash public persona might suggest Incendiary bordering on foul-mouthed; Rodrigo Duterte has been labelled the \u201cDonald Trump of the East.\u201d The comparison between the recently inaugurated president of the Philippines and the presumptive Republican nominee for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/12964"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=12964"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/12964\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=12964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=12964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=12964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}