Aussie expats now buying properties in Cebu

CEBU, Philippines - Aside from its interest on Cebu as one of their preferred vacation choices, Australians are also now buying properties in Cebu.

"We have seen a number of Australians buying and inquiring properties in Cebu," said licensed real estate broker Ricardo Inting.

Although some of these Australians are married to Filipinas, the news of Cebu being a good vacation and second destination have also spread to other Aussie nationals, who are now intrigue on Cebu's allure to investors and travelers.

According to Inting, while other nationalities like Americans, Canadians, Hong Kong Chinese, Singaporian, and even from Middle East, have already been acknowledged as emerging markets for Philippines' retirement come-ons, Australians though are coming in faster.

"Cebu is a hot place now not only as tourism destination, but also as investment site and retirement haven," said Inting adding that Cebu's top edge is its flexible property acquisition terms, high return-of-investment (ROI), the upstream value appreciation, and the promising economic growth path.

Regardless of the infrastructure concerns in Cebu, which obviously needs to catch up, Inting said interest of investors, property buyers, from all over the world is sustaining.

In fact, Inting said Cebu can sell all the remaining and upcoming condominium units in the next five years, and supply glut is unlikely to happen.

 Likewise, property broker Anthony Leuterio said that while the Australian market’s interest on buying properties in the Philippines is strengthening, this phenomenon is similarly true with other foreign nationals, who are also "in love" with Cebu, and the Philippines.

Leuterio said Japanese, Korean retirees, including Singaporean investors are singling out Cebu as their top investment site for property (condominium) acquisition, either for personal use, investment and rental purposes.

 The Philippines tagged as an economy "to watch out for" in Asia, has gained interest from investors, property flippers all over the world. While they are in the Philippines, these investors are drawn to Cebu because it is the fastest growing economy in the country, with fascinating tropical, resort environment, said Leuterio. (FREEMAN)