NEWS SNIPPETS & MORE

By: Sunstar Cebu
Published: September 3, 2020
Full Article: Solea Mactan reopens resort, rooms on sale
Snippets: BATTERED by the lingering effects of Covid-19, Solea Mactan Cebu is reopening its facilities and putting its rooms on sale to attract local tourists.

The eight-hectare property is one of the resort properties that heeded the call of the Cordova local government to reopen its doors to kickstart tourism activities.

“We are soft-reopening for now. Hopefully by October we will see better market conditions. We will be fully opened,” said general manager Christopher Benjamin Gothong.

Solea Hotel Cebu has about three hotel brands with over 500 rooms inside the sprawling property, namely Solea Seaview (63 rooms), Solea Mactan Cebu (225 rooms) and Solea Palms (254 rooms).

At P2,888 per room per night from Monday to Thursday at Solea Mactan Cebu, guests can enjoy both the beach and the amenities of the resort.

“We are opening Solea Mactan Cebu for now, but as soon as things get better we will open the two other buildings,” he said.

According to Gothong, the resort property was supposed to open its waterpark amenity this year, but was put on hold due to the Covid-19 pandemic. The group was also scheduled to open its Bohol property in Panglao Island.

“The pandemic has halted tourism activities,” said Gothong.

The halt of international travel and the closing of borders to prevent the spread of Covid-19 have wreaked havoc on tourism. Some hoteliers in Cebu have been forced to temporarily close business while others operate on a limited scale.

By: Ben O. de Vera - Reporter / @bendeveraINQ
Published: August 27,2020 - 02:28 PM
Full Article: PH economy seen slow to recover from pandemic’s impact
Snippets: The Philippines may have survived the worst impact of the COVID-19 pandemic but recovery seems slower than how its peers fare as infections remain high, UK-based think tanks said on Wednesday.

“The economy is likely past the worst. But things have been slow to bounce back. Manufacturing volumes were still down around 20 percent year-on-year at the end of the [second] quarter. In contrast, manufacturing output returned to growth in June in several regional economies,” London-based Capital Economics said in a report.

“Meanwhile, the government has failed to contain the virus and daily new infections are the highest in the region outside of India. Reflecting this, Google mobility data show that while the movement of people started to recover in June, activity remains very depressed and is recovering much slower than elsewhere,” Capital Economics added.

To recall, the government put back Metro Manila and four surrounding provinces—which accounted for half of economic output—under a stricter modified enhanced community quarantine on Aug. 4-18 as health care workers had sought a “time-out” following a surge in COVID-19 cases in these areas when the economy gradually opened up.

Three-fourths of the economic activity were resumed in June as the longest and most stringent COVID-19 lockdown in the region pushed the country into a recession in the first half, contracting by an average of 9 percent from January to June.

By: Sunstar Cebu
Published: August 27, 2020
Full Article: PCCI: Economic reforms to accelerate recovery
Snippets: CEBU CITY, Philippines — Real estate players and experts here in Cebu are divided on the country’s new and slightly improved ranking in real estate transparency.

Home > Blog > Condo Advice and Tips > Key Reasons Why Condo Is A Smart Investment

Key Reasons Why Condo Is A Smart Investment
By: DMCI Leasing

We all want to see the fruits of our effort, so making sure your hard-earned money goes to the right place is a must. You might be planning to own a condominium property you can enjoy or looking at expanding your means through investing. Either way, that’s a good start. But what makes it a wise decision? Is buying a condo as an investment profitable and would yield attractive returns? Does owning a condominium instead of a regular house and lot give you any advantage in terms of pricing and convenience?

The demand for luxury condominium units increased, and continues to increase tremendously high as the economy expands. Speaking of financial advantages of condo investment, sales of units valued at more than P7 million surged over 300% in 2013 from 2011. Why are people choosing to gaze their eyes over the condo industry? Here are some reasons why owning a condo is a smart investment.

 Money Works for You
Considering the boom of real estate industry in the Philippines, particularly condo ownership, is a great opportunity to make your money work for you. Buy a condo unit low and sell high-- usually on the pre-selling period-- and you can generate large profit. If continuous cash flow is what you’re after and not a one time profit, you might want to consider renting it out. Your condo investment also holds a higher value since it satisfies a basic human need. Whatever happens, people will need a shelter. It has a lower risk compared to investing in stocks or bonds.

Lower Initial Financial Demand
Especially if you’re looking for your first property, buying a condo would be a more affordable option. Purchasing your own conventional house might require higher down payment, thus making it seem impossible for you to own a home you can live in. Condominiums nowadays are less expensive and are less time consuming. This is one of the obvious differences between owning condominiums and land properties.

Take Advantage of Amenities, All within Your Reach
Most—if not all—condominiums have their own amenities that you can enjoy without paying for a large fee. Among the facilities you can enjoy are swimming pools, fitness gym, sports gym and even playgrounds for kids. You are sharing the payment with other unit owners making it a very small amount. You can take advantage of this anytime and without the need of maintaining it yourself. You are not only saving time by having all these amenities nearby; you are also saving money since you are paying for a lower amount for all of it combined. Even utility and repairs are covered by these monthly dues.

No Need to Live Outside the Metro
If you’re a young professional wanting to live in a cozy place without getting far from your workplace, the condo market is the right place to look at. While it’s almost impossible for you to find a new home inside the metro, and considering housing projects focusing on provinces near manila, more and more high-rise condominiums are being built in key cities of Metro Manila and nearby business districts. The time, money, and effort you’ll save will definitely be worth buying a condo instead.

You’re in Good Hands
The real estate market nowadays is too crowded and it’s harder to pick the gem among the stones. Looking for a desirable house on a pleasant community might take a lot of time and the decision is harder especially since it’s difficult to imagine how the environment would look like few years after. If you are going to purchase a condo unit instead, you are sure that you will be in good hands. Most condominium developers have a good reputation and track history that you can and should review. These developers are the people that will take good care of you and your property even after your purchase. You have the power to choose the best quality for your purchase.

Higher Resale Value
According to the 2014 Global Property Guide, Philippines has the fifth highest price increase in real estate properties, with condominium units prices going up by 36.4% from 2010 to 2014. While we are experiencing the fastest growing home prices, and it costs higher to purchase a property today and is harder to own one, this also shows a great opportunity for you to make money even after you use your condo and move to a new place. Condominiums in key cities in the metro hold a higher resale value. If you are not planning to stay in your condo for a long time and wants to move every now and then, it’s still a wise choice to spend it on a condo purchase.

There are lots of reasons why owning a condominium is a smart move. Whether you are planning to acquire a property to live in or to use it as an investment vehicle, owning a condo is one of the wisest decisions you can make. You are going to spend the fruit of all your efforts and hard work. Knowing more about the market, the benefits, and planning for your future does not only put you in a better position; it also gives you the edge you certainly need

By: Morexette Marie B. Erram - Multimedia Reporter - CDN Digital
Published: July 18,2020 - 02:43 PM
Full Article: Cebu real estate players mixed on PH’s new transparency index
Snippets: CEBU CITY, Philippines — Real estate players and experts here in Cebu are divided on the country’s new and slightly improved ranking in real estate transparency.

Top global research firm Jones Lang LaSalle (JLL) ranked the Philippines on the 44th spot in their Global Real Estate Transparency Index (GRETI) report for 2019.

It was released last July 8, 2020.

GRETI measures how the real estate industry in a country performs in terms of transparency, legal and regulatory framework, performance measurement, data availability and sustainability.

These indexes are also often used by real property developers and other industry players in gauging their decision whether or not to invest in a particular location.

The Philippines ranked 44th out of 99 countries surveyed, making it a Semi-Transparent country, and a slight improvement from its 45th spot in 2018, JLL noted.