Foreign buyers now eyeing Cebu property investments

Cebu is one of the favorite destinations foreign property buyers want to put their money into while facing the threats of the Coronavirus.

Cebu-based freelance property broker Joan Restauro said she is now busy assisting foreign buyers especially from Europe and Middle East.

One of them, she said is from Norway, married to a Filipina, who wants to buy a retirement home in Cebu, preferably beachside.

“They have money and they want to put in [property] investments,” said Restauro whose has 20 years experience as licensed property broker.

Other foreign buyers also are looking for condominium properties, either for investment purposes, or for retirement.

According to Restauro, those who are more aware of how to soundly put their money in times of uncertainties like today, are shopping for good real estate products, and Cebu is one of the attractive locations being considered.

Filipino working class in Dubai, are also shopping for real estate properties in Cebu, she added.

Aside from the international buyers, real estate products are now the hottest investment commodities among moneyed Filipinos.

Restauro explained that among other investment instruments, real estate has a sure-deal profit overtime, regardless of market situation.

“In our industry we have special role under pandemic. We are bend to adjust, to adopt, to correct the mistakes if any, but its failing forward. Pandemic is global. New standards are demanded based on needs to protect. But we are driven by human needs to find shelter and home and fullfillment of dreams therefore we are there to serve.”

Meanwhile, Angelyn P. Racaza, assistant vice president for Filinvest Land Inc., assistant vice president and area group head for VisMin, said Filipinos are buying condominium properties now both condominium and lot only packages.

Marketing online, using different usual media platforms, and virtual meetings, Racaza said there are also buyers who are taking advantage of big promotions and discount under the pandemic seasons, particularly those units that are ready for occupancy.

For as low as P200,000 buyers can already move-in, so long as they have Letter of Guarantee from the bank.

In Mactan, buyers are more interested in lot-only packages.

What is good about adapting online selling in the new normal, Racaza said is exposure or market coverage is worldwide. “No more boundaries.”