HOUSING SUMMIT 2016 is held at Radisson Blue on October 25th.
As a Realtor, and one of the team lead of CEBUFIRST Real Estate Group our task is to know first-hand information on the many major issues in real estate as the housing sector which is one of the major stimulants of Philippine economy. Annually, the Subdivision and Housing Developers Association – Central Visayas SHDA-CV holds a housing summit that would tackle about the challenges that the real estate industry is currently facing as well as forecasting the future needs of the growing population, in terms of infrastructure and shelter .
6 – Important Topics that were discussed are:
1. The Philippine Macro Economic Atmosphere
2. The Supply Gap Key Expansion Areas.
3. Housing Road Map to 2030
4. Traffic Control and Transit Management
5. Urban Planning and Development
6. Green Architecture
The supply gaps of the residential and commercial properties would become bigger and bigger as it is forecasted that 55% of the total population will live in the city by 2030. For residential, housing backlog now is estimated at 5Million units, comprising the economic and the socialized segment. Commercial – office spaces and retails are also in concurrence of the the housing needs. Cebu is lucky enough today because the average rental rate in business districts is still between 530 to 550 per sqm., compared to Makati CBD which has the highest rental rate at 991 per sqm, Ortigas Center ranks 2nd that is 624 per sqm.
I felt privileged, being seated right next to the top executives of Kenrich Dev’t. Corp., one of Cebu’s homegrown socialized and economic housing developer. Cebufirst Realty Ventures and Kenrich Dev’t. Corp. are partners in promoting affordable houses in Cebu. Mr. Lim said, that the scarcity of land in urban areas prompted them to go vertical development for mass housing. They find it very challenging in coping up with the demands because affordability and construction costs has to be considered first without compromising
their financial position of the business. That is why most of the developers in Cebu are building midcost to high-end housing which is more viable, which for the time being, has created a mis-matched between the need and the supply.
One of the highlights of the summit was the talk of Ms. Karima Palafox who discussed about the Eco cities and urban planning. She said, a Transit-Oriented Development TOD, would augment the quality of life in urban areas.
There was so much learnings and insights during the HOUSING SUMMIT 2016. I may not be able to digest them at once, but having attended such event makes me feel more aware of the present situation and be ready about the future of real estate in Cebu and in other major growth areas of the Philippines.
Be a part of our team! Join us today! Contact: 09273820208 09278258499