Quakes jolt Cebu property market

BUT LONG-TERM DEMAND STILL INTACT

- Ehda M. Dagooc, Staff Member

A series of earthquakes that jolted Cebu and parts of the Visayas and Mindanao has prompted real estate stakeholders to assess the short-term sentiment for high-rise residential developments, though industry leaders say long-term demand remains intact, buoyed by returning Filipino investors and continued urban migration.

Anthony Gerard O. Leuterio, founder of Filipino Homes, said that while natural disasters tend to momentarily affect buying confidence, particularly among local investors, overseas Filipino workers (OFWs) remain steadfast in their intent to invest in Philippine properties.

“Any disruption—like an earthquake—can cause temporary hesitation. But long-term, Filipinos, especially OFWs, will keep investing because they see the Philippines as home,” Leuterio said.

“Many don’t like to stay abroad forever. The only way they can make their money grow is by buying property here.”