Worsening traffic problem to dampen property boom

While real estate boom is inevitable in 2023, the government needs to work together with property developers to address the worsening traffic problem, specifically in Cebu.

This is a suggestion made by Filipino Homes founder and chief executive officer (CEO) Anthony Gerard Leuterio, noting the high interest of property buyers both on the domestic and international fronts investing in properties in urban areas like Cebu and neighboring cities.

“The boom is already there. But it could be halted or stopped because of traffic,” warned Leuterio,

recommending that there is a need for the government and developers to sit down and solve the traffic congestion problem together.

This is the time that the government should be more proactive in planning infrastructure investments, that will coincide with the economic development and build-up, noted Leuterio, who is also the president of the A Better Real Estate Philippines (ABREP) movement.

“Why not call all the developers and congregate all the projects and maybe align with some of the roads or open some roads,” said Leuterio, reiterating that the boom in real estate particularly in Cebu might be disrupted if the traffic congestion issue will not be addressed properly.

Leuterio, who is also part of the advisory group of the Accredited Real Estate Salesperson in the Philippines (ACRES) emphasized that road infrastructure should be aligned with the economic activities, and the planned projects of the developers—may it be residential subdivisions, condominiums, commercial towers, integrated and township projects, among others.

He also mentioned the creation of more mass transportation facilities in Cebu, as the Metropolis is now accommodating the increasing number of private vehicles.

The completion of the Metro Cebu Expressway that was started during the term of former President Rodrigo R. Duterte is a good start, he said.

The 56.9-kilometer road network will serve as alternative access via a “backbone highway” connecting Danao City in the North and the City of Naga in the south of the island.

Leuterio believes that the Metro Cebu Expressway will be materialized, and at least 30 percent to 40 percent volume of cars will be decongested.

Aside from the construction of more buildings, and developments within the Metro Cebu, property developments now are also stretching to the countryside areas, as far as Minglanilla and Carcar City in the South, and Consolacion, Liloan, and Danao City in the North.

Leuterio made this recommendation observing the active interest of buyers here and abroad to buy condominium units within the Metro Cebu areas, and one of the top concerns among interested buyers is the problem of traffic congestion.