Investing in VisMin and why it makes sense
Written By: Amy R. Remo
The strong real estate potential of Visayas and Mindanao (VisMin) is seen to be sustained this year by an expected economic recovery and the continued rollout of infrastructure projects here.
Key locations such as Cebu, Iloilo, Davao, Cagayan de Oro and Bacolod, for example, continue to be attractive, viable real estate investment hubs as evidenced by the steady demand for residences, offices and commercial spaces in these provinces.
In Cebu province, residential developers and investors are banking on the expected rebound from the COVID-19 pandemic to further boost an already healthy demand for real estate projects, particularly for integrated mixed-use communities, according to a report published by Colliers Philippines.
Colliers thus encourages developers in Cebu to respond to the potential demand for mixed-use communities which feature office towers, residential condominiums, malls and institutional facilities. It further sees the completion of major infrastructure projects boosting the attractiveness of condominium projects within integrated communities due to rental prospects and potential for price appreciation.
Demand for condominium units in Cebu, according to Colliers, is seen to pick up this year, to be sustained largely by end-user demand. It expects the completion of 10,270 new condominium units in the province in 2022, while prices are seen to grow by 2.5 percent.
Viable investment location
Colliers meanwhile sees Iloilo as a rising residential hub in the Visayas.
In its report, Collier said it will “continue to rise as a viable residential investment location as commercial activities continue to increase in the province. It is among the preferred locations for outsourcing companies that are expanding outside Metro Manila.”
“Greater business activities within the city’s integrated communities should positively influence demand for condominiums located in the city’s townships,” Colliers said.
In particular, office leasing recovery and sustained introduction of new supply are also seen to positively influence demand for condominium units. Colliers projects the delivery of new condominium units in Iloilo to reach 860 units annually from 2022 to 2026, while prices are expected to grow by 2.8 percent a year over the next five years. Demand for horizontal developments (house-and-lot units) continues to be robust as well.
Gearing for recovery
Davao developers are now bracing for a rebound, according to Colliers, which sees this area retaining its stature as one of the more attractive residential investment hubs in Mindanao.
“In our view, Davao’s residential market will continue to benefit from the region’s economic recovery beyond 2022. Despite market disruptions due to COVID-19, demand, primarily seen to be coming from OFWs and investors, is still expected to take-up inventory as the country starts to ease mobility restrictions and economies open,” it explained.
“Colliers sees an improvement in demand beyond 2022 and this should play a crucial role in raising property prices and improving the feasibility of alternative sites for residential projects,” Colliers further said.
For this year, Colliers sees the delivery of 1,790 condominium units in Davao, while condominium prices here are seen to grow by an average of 3 percent a year from 2022 to 2026 as more national players continue to launch new projects.
Horizontal projects are likewise seeing healthy demand, remaining an attractive investment option among OFWs.
Catering to this healthy, growing demand for residential projects in VisMin is Avida Land, Ayala Land’s residential arm catering to the mid-market segment.
It’s no surprise that Avida Land remains the top-of-mind choice of many buyers and investors in VisMin as it brings its distinct brand of quality, value-for-money residences to cater to a market that values the benefits of communities that are strategically located in fully integrated mixed-use estates, well-designed layouts, wide open spaces, practical amenities and sensible features.
In Cebu, Avida Land has Avida Towers Riala in Cebu I.T. Park–a a strategic location that places residents near modern, premium grade offices, a hotel, sports club and a mall.
This Avida project thus has strong demand owing to its practical, value-for-money proposition.
Whether you prefer a condominium unit or a house-and-lot unit, Avida Land can readily cater to your needs as it has a number of developments within the progressive province of Iloilo.
Avida Towers Atria and Avida Storeys Atria are condominium projects located in the 21-ha Atria Park District, a fully integrated, masterplanned estate in the commercial area of Mandurriao in Iloilo City. Besides residences, one can also find in this Ayala Land estate retail areas, Qualimed hospital, a Seda Hotel, and a technohub that hosts traditional offices and business process outsourcing companies, among others.
A suburban lifestyle awaits in Avida Village Iloilo, in the municipality of Pavia, where one can enjoy spacious open spaces and house-and-lot units.
Avida Towers Abreeza meanwhile addresses Davaoenos’ need for a lifestyle and business address that places them near modern conveniences and rural comforts. It is located in the Abreeza Estate, which brings together residences, offices, and commercial spaces such as Ayala Malls Abreeza, and a Seda Hotel in one premium destination.
Avida Land’s other projects in VisMin include Avida Towers Aspira in Cagayan de Oro, and Avida Village Northpoint in Bacolod City, among others.
There is no doubt that Avida Land continues to be the best in its class, with exceptional VisMin projects enabling their residents and investors to enjoy not only the benefits of a safe, well-planned community by Avida Land, but also the unique advantages afforded by the Ayala Land lifestyle.
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