Business and Economy
WHAT MAKES CEBU A RETIREES’ HAVEN? THE PROSPECTS LOOK BRIGHT FOR DEVELOPERS EYEING THE GRAY MARKET. EXPERTS, MEANWHILE, DISCUSS HOW TO BANK ON PROPERTY CHOICES TO GROWTH WEALTH.
Cebu’s economy and that of Central Visayas, in general, went through an extreme test when two major calamities hit in late 2013.
The Gross Regional Domestic Product ( GRDP) in Central Visayas grew 7.6 percent in the first half of 2013, already surpassing its growth target for the entire year. Thus, the National Economic and Development Authority 7 remained confident that the economy in Central Visayas would sustain its growth momentum until the year- end, considering that the 7.2 magnitude earthquake and super typhoon Yolanda occurred in the last quarter of the year.
A big chunk of the growth was brought about by the Information Technology- Business Process Management ( IT- BPM) and tourism industries which, in turn, spurred activities in construction and property development.
Many of the construction projects in 2013 were residential properties, as developers scrambled to address the growing demand for living space.
This section tackles the robust growth in the low- and mid- end residential property development, the emerging trends in the retirement sector and investment opportunities in real estate.