Cebu City Among Top Property Hubs in 2020

The Queen City of the South remains as one of the top property hotspots in the country in 2020, according to real estate marketplace Lamudi.

In their report “Hotspots Unwrapped: 2020’s Most Popular Locations,” Cebu remained the top property hotspot outside Metro Manila, garnering and interest from site viewers at 26.56 percent, mostly renters.

“Cebu commands a very active market, accounting for 26.56 percent of pageviews for provincial cities,” Lamudi said.

This comes as Lamudi pointed out that cities hosting top business districts attract renters looking for places to live at near their respective workplaces.

Cebu City currently leads the real estate market by a wide margin, with Davao City following at only 8.29% of pageviews for cities outside Metro Manila.

“The popularity of (Cebu as a) location may be credited to the fact that it’s among the top choices of businesses setting up shop in provinces. For this reason, properties become more attractive to different kinds of homebuyers,” Lamudi said. A steady-climbing number of people looking to move outside Metro Manila, Lamudi Added.

The real estate marketplace also pointed out that the country finished strong in the real estate sector in 2020, and adds that with the incoming vaccination program against the coronavirus disease 2020 (COVID-19), the industry is poised to capitalize on the performance of 2020 and will be in a better position in 2021.

“This puts the sector in a better position to take on 2021, especially as optimism and confidence brew over the news of vaccination,” it added. (GFB)