Undeniably, city living is becoming more attractive to Mindanaoans since most of the progressing cities are transitioning to be the center of commerce and trade here in the southern parts of the Philippines. The sprouting businesses and the establishment of big companies and industries offer more opportunities for job seekers and working young adults. According to John Tria in his article on the Manila Bulletin (August 2021) the proximity of Mindanao to ASEAN and Pacific sea lanes, the improved infrastructure such as new roads linking cities (made possible by DPWH), and the recent economic reform, the CREATE LAW, entices local and foreign investors here Mindanao that will do well to spread their capacities throughout the country. Therefore, individuals living in the city are like a high octane fuel powering the engine for the upcoming turbocharged progress in Mindanao.
Aside from the forthcoming opportunities and progress, living in Southern parts of the country offers a variety of benefits mainly in the gateway of Mindanao, Cagayan de Oro. Metro Cagayan de Oro will become the fourth metropolitan center based on projected population growth and role as a major gateway and transshipment hub in the region according to NEDA’s five pre-feasibility studies during its third-quarter meeting on 24th of September 2020. The upcoming big universities, hospitals, and recreational parks and infrastructures are more suitable to anyone who aspires to live in vertical developments primarily condominiums here in the City of Golden Friendship.
Reshaping Residential Living
Here in Cagayan de Oro, residential living is reshaping at a steady pace for families that are starting up and looking for a home within the city. More families are now investing in vertical rather than opting for horizontal developments due to the accessibility and convenience factors. Families with the setup where both the husband and wife are working, living where offices and establishments are in proximity is a great deal of sustainability and productivity. It promotes evening dinners with the family after work much more possible since commuting home is a much closer journey.
For students who are originally situated in the neighboring municipalities but enrolled in prime schools and universities here in the city, parents are now investing in a condo unit here in Cagayan de Oro where they can give their youngsters a full-time studying routine. Especially for those who are aspiring for higher education, a condo is an ideal place to prosper one’s mind.
New living for old age
Apart from the usual starting up families who invest in condominiums, independent living for seniors who are planning to retire and who are already retired are increasingly opting for the benefits a condo life could offer. In fact, 28.60 percent out of the total of property seekers of 2020 with the age bracket of 45 to 54 are eyeing vertical developments as to Lamudi’s year-end report of yesteryear.
The close proximity of health care and hospitals, supermarkets, and recreational parks are the essential requisites for an old-age lifestyle. Furthermore, the maintenance of a condo is much lesser since unit owners are only responsible for the condo interior and the rest is covered by the monthly condo fee.
Lifestyle: Condo Living
A lot of relocating individuals in some of the municipalities of Mindanao fall within the working class and student categories. So, it is no surprise to see Millennials or Gen Z flocks in the city where career paths and lucrative opportunities are paved and established. Unfortunately, these young adults have a lesser chance of finding a house and lot property within or even in the outskirts of the city due to the limited land area. That is why Real Estate developers such as Vista Residences are continuously building high-rise residential condominiums to cater to these individuals and the lifestyle they choose to have.
Currently, millennials’ spending patterns and social lives have changed due to the health protocol restrictions brought by the pandemic. Instead of travel plans or buying a car, these young adults are now investing their finances in property for sustainability such as work from home setup, off-hand maintenance, and not to mention the plethora of amenities.
Additionally, condo living embraces freedom and the independent lifestyle specifically Gen Z and millennials feel more connected to this concept. In fact, millennials or some of the Gen Z are reckoned as aggressive, willful, and opinionated but according to Sheila Lobien, Chief Executive Officer of the Lobien Realty Group, during her presentation on “Philippine Real Estate Opportunities in the Post Pandemic World.”, the population of young (average age 25) are highly literate and dynamic consumers which translates into strong and robust property seekers.
Two birds, one stone
The city of Cagayan de Oro is recognized as one of the top 10 richest cities in the Philippines in 2020 and once reached a revenue of 3.26 billion in 2017 placing the city second among Mindanao that have the highest revenues. This just goes to show that the value appreciation of properties in CDO is constantly inclining. To cite an example, one of the key players in the condominium developments in the city, The Loop at Limketakai Center by Vista residences, has a value appreciation of 9.89% per anum. In this light, a condominium investment is the best course for individuals who are sailing towards income-generating assets.
Other than that, the vibrant tourism scene and booming infrastructure development here in Northern Mindanao attract an influx of tourists, visitors, and local and foreign businessmen which requires the real estate sector for the hospitality industry. Lucky enough, The Loop at Limketkai Center offers and allows unit owners to make their investment open for leasing business. Hitting two income opportunities in one real estate investment.
Even with the current economic crisis caused by the pandemic, the real estate industry in Mindanao specifically in its gateway city, Cagayan de Oro, continues to escalate value appreciation at a robust pace and is being eyed by dynamic and wise property investors, home seekers, and businessmen. Yes, some windows were closed due to this pandemic but for the real estate, the window stands wide and golden.
Vista Residences is the condominium arm of the country’s largest homebuilder, Vista Land & Lifescapes, Inc., which offers ready for occupancy and pre-selling condominium projects in Manila and Quezon City that are strategically located within inner-city areas, in close proximity to premium universities and developed business districts.
At Vista Residences, unit owners can take advantage of the property’s centrality. The properties of Vista Residences are strategically located near the country’s premium universities and CBDs, making them an attractive investment for both local and foreign investors
To continue its mission in providing condominium homes for Filipinos and investors, Vista Residences is now offering a premium condo living in the other areas away from Metro Manila. You can experience a warm and relax condo vibe in its condo in Baguio – Pinehill, Canyon Hill, and Brenthill. Now in the south, Vista Residences has Suarez Residences, a pre selling condo in Cebu; and The Loop, a ready for occupancy condo in Cagayan De Oro.
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.