THE current health climate may have put the world to a halt in 2020, but market experts are projecting a comeback in the real estate industry in 2021. This time, there is a significant change in market preferences.
More property seekers are now looking for homes in provincial cities with a new set of criteria: comfort, connectivity and active leisure.
The new normal has heavily influenced how property seekers consider their real estate decisions. There has been a growing interest in provincial cities—especially those that have central business districts like Metro Cebu.
Cebu’s huge market potential
According to online property marketplace Lamudi’s 2020 trend report, Cebu City is the most popular location outside Metro Manila among property seekers, majority of whom are renters. Cebu City garnered 26.56 percent of all page views for provincial cities, with Davao City trailing far behind at 8.29 percent.
Metro Cebu offers more breathing space for residents compared to the more densely populated Metro Manila. However, it still provides all the conveniences that a highly urbanized city offers.
It’s also a top choice for business locators from the capital who are looking to relocate or expand to another area. According to a market report by real estate services firm JLL, interest in office spaces in Metro Cebu increased in the third quarter of 2020. It holds a 28.6 percent share in the total office space inquiries, most of which were from Metro Manila-based businesses. Around 95 percent of them are involved in offshoring and outsourcing.
Lamudi says the growth of both commercial and residential property sectors have complemented each other amid the new normal as residential offerings near central business districts (CBDs) have been made into corporate housing of essential businesses. With recent restrictions in mobility, more people are also looking into rentals that are near their workplaces.
This puts 32 Sanson by Rockwell at an advantage given that it is located within proximity to two CBDs—Cebu I.T. Park and Cebu Business Park— which are major hubs of the growing BPO industry in the region. The property has also seen an increase in the number of inquiries from its secondary market.
The increased interest in the urban center may be driven by rental rates comparable to those in Metro Manila. In a report by real estate services firm Cushman and Wakefield, monthly rental rates in Taguig and Makati reached up to P1,272 per square meter in the first quarter of 2020. On the other hand, rental rates in high-end residential properties like Rockwell Land’s mid-rise garden development 32 Sanson was valued at around P940 per square meter.
The new normal
There has been an upsurge in market interest in premium residential properties due to the lifestyle changes brought about by the pandemic.
Now, property seekers are not just looking for shelter and security. They also want to move somewhere they could experience comfort, convenience and active leisure.
According to Colliers International’s latest market report, property investors and end-users want to be in an integrated community where they can enjoy larger living spaces, open areas, outdoor spaces and immediate access to essential goods and services—amenities that one can enjoy to the fullest by living in 32 Sanson.
Homebuyers and renters want an abundance of living space where they could work and relax. 32 Sanson fulfills that need with residential units designed with lots of space to fit a home office without having to take away one’s much-deserved relaxing space.
Residents can easily access essential goods and services as the property is just a stone’s throw away from CBDs, lifestyle centers, supermarkets and a plethora of dining choices. Located in Lahug, 32 Sanson finds itself in the middle of it all, making it one of the most sought-after areas in the city.
Property seekers now put a premium on amenities that are good for their health and wellness and where they could take their much-needed breaks.
At 32 Sanson, residents find nature’s calmness right in the heart of the bustling city with lush greenery and open spaces within the property.
The 3.2-hectare master-planned development also features two swimming pools, a lawn, a children’s play area, a clubhouse, function rooms and a state-of-the-art gym to help one keep his mind and body healthy.
With the expected increase in property values and the growing popularity of residential developments in Cebu City, 2021 is a great time to invest in a property that one could rent out or live in—and 32 Sanson may have just what one is looking for.
32 Sanson by Rockwell offers a mix of tranquil nature and urban conveniences, where beautifully constructed residential towers are surrounded by artfully landscaped greenery and equipped with top-of-the-line amenities— all while being close to Cebu’s business districts.
Investing in lasting spaces is made possible at 32 Sanson. For inquiries, one may contact its Cebu Sales Office at 032) 417-3888 or send an email to firstname.lastname@example.org. One may also check out its website at 32sansonbyrockwell.com for more information.