Mid-income market, yuppies fuel Cebu real estate growth

CEBU, Philippines - A certain developer considers the middle-income market segment and working professionals as the growth drivers of the booming real estate industry in Cebu.

Elly Galland Jumao-as, general manager of Softouch Property Development Corporation, said the growing number of people becoming professionals corresponds to the rise of the number of developers in the province, thus fuelling up the industry.

He cited that profiles of their buyers vary from budding, working professionals to Overseas Filipino Workers who consider real estate properties as a long-term investment.

“With a good back-up of Pag-ibig housing loans, the middle-class segment will always be the engine of growth,” he added.

Softouch Property Development Corporation started its operation last October 2008 with an idea of a housing project to offer a wholesome haven among average Filipino families.

Softouch President Manuel Dy Jr. said that the company banks on the mixture of affordability and good quality of townhouses in a good location.

For four years in the business, he noted that the company prides itself since there has been no complaint so far.

The company is now working out in its third subdivision project which is the Anami Homes – North located in Jugan, Consolacion, Cebu with an initial investment of P50-P100 million.

Anami Homes – North project is composed of contemporary designed townhouses in a 3.2 hectare property which is 1.5 kilometers away from SM City Consolacion and accessible to schools, banks and business establishments.

“We are lucky to have this place. It’s very hard to find locations nowadays with many developers around,” he stated.

He also said that the company is not bothered with such competition in the industry as it offers an attractive price for its townhouses compared to condominiums.

The target sold-out period for Anami Homes – North is projected within a year, he added.

It started its ground breaking last April of this year and is targeted to be in completion within two years.  (FREEMAN)