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| Monte de Piedra |
Investing in
residential lots or house and lot in Cebu? This is one question that a number
of people are asking when they think about investing in Cebu. For people who
have no problem with their budget, this question is a no-brainer. They would
definitely go for a house and lot. In fact, they may even buy it outright to
take advantage of the discounts available for spot cash payments.
However, for
many of us who may not have the budget to buy a house and lot, we may have to
settle for a residential lot. This is actually the most practical thing to do.
There are a number of developers offering residential lots at a reasonable
price. I am using the term “reasonable” since you cannot get cheap residential
lots in and around Cebu City. If you want to buy cheap residential lots, you
would have to take a long ride away from the city.
The reasonably-priced
residential lots I am referring to are located just outside the city. And it
would be better to buy these lots when they are still being developed since
their prices would be lower compared to lots in subdivisions that are already
developed. For instance, I know of one development just north of Cebu City where
residential lots were priced at around 1,800.00 per square meter when they were
initially offered in the market.
However, after around a month, the price went up to P 2,500.00 per
square meter before increasing to P 3,200.00 per square meter. I think the
current price tag of this residential lot is already at P 4,000.00 per square
meter. To think, these residential lots were only offered in the market last November.
In a matter of seven months, the value of the residential lot increased by over
100 percent, which makes it practical to think about investing in residential
lots in Cebu.
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| Monte de Piedra |
Real estate
is always a good investment since the value of real estate would, more often
than not, increase as time passes. The only time it may decrease if there is a
war, natural disaster or any other event resulting to the death of thousands.
This may be the only time when land prices will decline. However, it will not
stay down for long since they are expected to increase once the place is able
to recover.
I remember a
story my grandfather told me a long time ago. He was one of the survivors of
the Bataan Death March. He said when they were released from the military
prison after the Death March, he and his fellow-survivors were offered a piece
of land somewhere in Manila. The area was actually a marshland at that time,
and was offered at a few centavos per square meter (I don’t know if the price
was accurate but I think this is possible since the country was in the middle
of a war at this time). However, since he already missed his family, he
hesitated and in the end did not purchase a single plot of land in the
area. That marshland offered to my
grandfather over seventy years ago is now the city of Makati.
This just
shows that even after a war, once an area is developed again, its value will
increase exponentially, albeit it may take a number of years depending on how
fast the development is made. This is another
reason why you should take into account investing in residential lots in Cebu.
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| Elizabeth View Homes |
The price of
land in Cebu City has increased so much in recent years that it is not possible
for you to find residential lots within Cebu City priced at less than P
10,000.00 per square meter. In fact, this price is also true to a number of areas
in the outskirts of the city. Although it is still possible to find residential
lots priced lower than P 5,000.00 per square meter in the outskirts of the
city, it is important for you to buy these residential lots while they are
still being developed. The moment, the areas around these residential lots are developed,
the price will definitely increase. This makes it important to think about
investing in residential lots in Cebu as soon as possible.
There are
also some residential lots available for purchase without any interest for a
five-year payment period. This means, you can actually own a piece of land by
paying the same monthly amount for the next five years. Since the price of land
increases as more development comes into the area or as time passes by, the
earlier you buy the residential lot, the bigger would be the value of your
investment after a period of time. For example, if you are going to buy the lot
at a current price of P 3,000.00 or P 4,000.00 per square meter today, it may
go up to P 5,000.00 or even P 7,000.00 per square meter after a few months or
years. In fact, it is also possible that by the time you are able to fully pay
the residential lot, its value may have doubled or tripled already. This means,
you have doubled your investment within a five year period, which you cannot
get from a time deposit from any bank.
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| Elizabeth View Homes |
By the time
the residential lot is fully paid, the area would already be developed, which
makes it easier for you to sell it at a huge profit. Or you can opt to build your house on your new
residential lot.
Investing in
residential lots in Cebu is actually a practical thing to do since Cebu City may
become the next Makati. This means land values around Cebu City will skyrocket
once this happens. If I had the cash, I would definitely think about investing
in residential lots in Cebu since I know that in five years, the area will be
developed and the value of the lot that I bought would increase by at least
fifty percent, if not, by one hundred percent.
