Master planned communities pushed

CEBU, Philippines — Developers are encouraged to build more master planned community projects as the market can now afford to pay.

This is in preparation for the projected influx of property buyers both from local and international market, taking advantage of the Philippines projected long term economic stability, said property analyst David Leechiu.

“We need to build sustainable master planned communities,” said Leechiu in his visit to Cebu.

He said the market is now awashed with money and that while properties located in an integrated and masterplanned area are more expensive, modern buyers are willing to pay for it.

Leechiu mentioned the existence of Cebu Business Park and Cebu IT Park which spurred economic activities and raising property values in its neighboring communities.

Property values located within a master planned community are priced much higher than nearby properties outside of the development.

Disparity of properly prices is evident, Leechiu said referring to the high returns of buying or investing properties inside an integrated zones.

On the other hand, amid the rosy prospects of real estate sector in Cebu, property marketers are calling on concerned government agencies to fix roads, and other infrastructure components to take advantage of market’s strong interest.

Real estate broker and Filipino Homes founder Anthony Leuterio made this call as Cebu’s attractiveness to property buyers here and abroad is spoiled by the worsening reports of traffic and inefficient roads.

“My advise is we should fast track the road renovations and road expansion projects. This is important to impress investors and buyers,” suggested Leuterio.

Lueterio echoed Leechiu’s observation saying buyers are increasing and are willing to pay.