Prime time for the private, privileged lifestyle
WHEN the affluent go house hunting, they don’t settle for anything less than what they deserve. And that’s first- class living.
“They spend on houses with higher price tags because they know exactly what they want— to come home to a community that ensures the tranquil environment of a very exclusive home,” said Bobette Ouano, marketing head at Arcenas Properties.
“The high- end market is very detail- oriented, so location is just one factor. This market also considers bigness, lifestyle and views,” she said.
Cebu, a thriving economic hub, gives high- end buyers wide options on owning big homes, whether in the suburbs, close to the mountains, or beachside.
Eight is enough
Located on the breezy hills of the 20- hectare Arcenas Estate in Banawa is Casa Rosita Villas, a posh residential project with only eight modern villas.
Developed by Handumanan Development Corp., the real estate division of the Arcenas Group of Companies, the 7.5- hectare development of single- detached homes on rolling terrain gives homeowners a good view of the hills and the sea, and a portion of Cebu City.
With a floor area of 362 square meters and lot area of 416 square meters, each villa at Casa Rosita goes for P24 million. The fully furnished model costs P33 million.
“A big space is what we offer our clients. For us, it’s the meaning of luxurious living,” said Ouano.
According to developers, they are attracting a good mix of end- users and investors, from highprofile professionals from Cebu to foreigners married to Filipinas who love the idea of owning a piece of Cebu’s prime residential projects. Like the low- and middle- income markets, the affluent also pay on installment basis and maximize other easy financing schemes.
On top of experiencing first- class living, high- end buyers want their houses to reflect their social and financial standing, according to Audie Villa, AboitizLand assistant vice president for sales.
“Living in big- ticket houses reflects who you are and how far you have come,” he said. “What this market looks for is a prime, private and privileged community to live in.”
Villa pointed to Priveya Hills, one of AboitizLand’s high- end products, as a prime project because of its location, its future value of investment, and the developer behind the project.
Priveya Hills is an exclusive 59.25hectare community located between the villages of Casili and Tawason in Mandaue City and Bacayan in Cebu City. The project offers homeowners privacy since it is a low- density development with an average of only 13 residences per hectare.
“Cebu is becoming a busier metro. What we are offering homeowners is a place they can call a ‘ real’ home where they can enjoy quality time with their family,” said Villa.
The listed real estate firm said 45 percent of the community is composed of green open spaces, including a linear park running from north to south. Three hectares of the development have been appropriated for parks and ponds, and naturally landscaped slopes will cover over two hectares.
Villa said while some buyers intend to live in the property, others don’t.
“Some bought to flip the value of the investment,” he said.
As of May 2013, the lots at Phases 1 and 2 of Priveya ranged in price from P6.3 million to P11.6 million at sizes ranging from 400 to 728 square meters.
The affluent market also considers the view when choosing a home. This, in part, is how Marco Polo Residences brings luxury condo living to new heights.
Marco Polo Residences is the five- tower residential condominium complex rising a few steps away from the five- star Marco Polo Plaza Cebu. It offers residents a breathtaking view of the Mactan channel and the bustling metropolis.
HOME FOR THEM IS A WORTHWHILE INVESTMENT.
IT IS WHERE YOU SPEND MAJORITY OF YOUR TIME
Another thing going for it is that branded residences are an emerging concept in the luxury segment, where developers tie up with international hospitality services. Residents at Marco Polo Residences are treated like hotel guests as the development is managed by and receives the world- class services of Marco Polo hotel.
As of July 2013, one- bedroom to four- bedroom units ranging in size from 36 to 226 square meters were valued from P3.3 million to P26 million.
Federal Land Inc. senior vice president Dennis Lim said the affluent will spend on expensive condominiums because “home for them is a worthwhile investment. It is where you spend majority of your time. It is your refuge from the outside world. It appreciates in value, and it is something you can pass on to future generations.”
FIRST IS THE EXCLUSIVITY. IT IS UNLIKELY THAT ANOTHER SIMILAR BUILDING WILL RISE IN THE NEIGHBORHOOD
Due to limited availability of land in the cities like Cebu, luxury residential properties are growing vertically. The emergence of Cebu’s high- end residential condominium projects like The Padgett Place, Marco Polo Residences and Park Point Residences shows that living in a high- rise has its advantages.
“First is the exclusivity. It is unlikely that another similar building will rise in the neighborhood,” said Gladys Ceniza, marketing consultant for The Padgett Place by Cebu Green Peaks Development Inc.
The Padgett Place is said to be the first leisure condominium in Cebu. It is located in an area that was home to the American agro-industrialist Cyrus John Padgett who retired in Cebu and of Cebu’s most privileged and illustrious families.
High- end condominiums can provide the luxury of space that lower- end condominiums can’t, according to Ceniza.
Green Peaks, for instance, built only one tower that occupies one- third of a 3,500- square- meter property in Barangay Lahug, Cebu City to surround the project with expansive greenery. As of June 2013, its condo units were priced from P4.6 million for a one- bedroom condo unit to P18 million for a threebedroom garden suite at the 25th floor. Villas at the ground floor were valued at P40 million.
MODERN HOMES NOWADAYS ARE PACKED WITH FEATURES THAT MEET THE ASPIRATIONS OF THE HIGH- END MARKET
Modern homes nowadays are packed with features that meet the aspirations of the high- end market like huge and modern living spaces with premium addresses. Developers have also thought of providing landscaped terrace gardens, skyview bars, exclusive lounges, private swimming pools and easy access to malls as come- ons.
Private access to the city’s dining, shopping and entertainment destinations, for example, has caught the attention of home buyers after Ayala Land Premier introduced Park Point Residences, touted as an “ultra high- end class condo” on top of Ayala Center Cebu’s new wing.
On top of huge spaces, highprofile neighbors, better views and security, Ayala Land Sales Inc. marketing manager Cat Martinez said, “comfort, luxury and distinctive lifestyle” are the other factors that make pricey condominiums sell.
Park Point Residences, with 255 residences, has limited edition units that boast of distinctive amenities like private pools and expansive sky decks. Buyers may choose designed units ranging from one- bedroom to special three- bedroom units. As of July 2013, units were priced from P6.1 million to P48.7 million for unit sizes ranging from 61 to 238 square meters.
THE AFFLUENT MARKET HAS HIGHER DISPOSABLE INCOME, ALLOWING THEM TO BUY A SECOND HOUSE, A VACATION HOME IN PARTICULAR
For those seeking a resortinspired vacation home, down south in Argao town is the spacious Argao Royal Palms.
Primary Homes Inc. vice president for sales and marketing Ramiro Espina said this high- end project, which has about 300 units, has attracted high- level professionals, Filipino- American retirees and expatriates.
“The affluent market has higher disposable income, allowing them to buy a second house, a vacation home in particular,” said Espina. “They are after prestige, security and exclusivity.”
The 4.5- hectare Argao Royal Palms development mixes a suburban lifestyle with resortinspired living. It features an oceanfront clubhouse with an infinity pool for an unparalleled view of the sea and the neighboring islands.
According to Espina, the development has a complete set of amenities like sauna and jacuzzi, fitness gym, scenic jogging trail and an aqua golf range. As of July 2013, the two- and three- bedroom house units were going for P3.2 million to P14 million at floor areas of 80 to 218 square meters and lot areas of 90 to 252 square meters.
He said the affluent are willing to spend because they understand reward and value for money.
“This project is an attractive home of choice for those who simply want to have a good and peaceful place in a peaceful town,” said Espina.
At the right home, every day can be a vacation.
POINT OF VIEW. THE HOMES
ON ROLLING TERRAIN IN CASA
ROSITA VILLAS GIVE A GOOD
VIEW OF THE HILLS AND THE
SEA. BUT INSIDE THE VILLAS,
EACH SITTING ON MORE THAN
400 SQUARE METERS OF LAND,
THE VIEW IS JUST AS GOOD.
PRIVATE LIFE. WITH THE NUMBER OF
HOMES KEPT TO A MINIMUM AT PRIVEYA
HILLS, FAMILIES CAN BE ASSURED OF
PRIVACY AND QUALITY TIME WITH THEIR
ELEGANT EXPANSE. SAID TO BE THE FIRST
LEISURE CONDOMINIUM IN CEBU, THE
PADGETT PLACE SHOWS THAT EXPANSE
AND LUXURY DON’T HAVE TO BE ALIEN TO
HEAVEN- SENT. ATOP AYALA CENTER
CEBU, PARK POINT RESIDENCES OFFERS
A PORTAL TO SHOPPING, DINING AND