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Cebu is ‘second home’ for US Pinoys
Cebu City, Cebu – Capitalizing on the promotion of Cebu as a “second home” destination, a 48-men delegation from Cebu announced it recently conducted a 15-day sales mission to the United States encouraging Filipinos there to buy properties in Cebu.The group of licensed brokers and sales agents visited five key cities in the U.S.-New Orleans, Los Angeles, New Jersey, New York, and San Francisco ...
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var t_art_head = new Date().getTime();Cebu is ‘second home’ for US PinoysManila Bulletin – Sat, Nov 22, 2014 1:10 AM PHT
Cebu City, Cebu – Capitalizing on the promotion of Cebu as a “second home” destination, a 48-men delegation from Cebu announced it recently conducted a 15-day sales mission to the United States encouraging Filipinos there to buy properties in Cebu.
The group of licensed brokers and sales agents visited five key cities in the U.S.-New Orleans, Los Angeles, New Jersey, New York, and San FranciscoThey expect to generate at least P200 million to P300 million in sales deals that would translate to an estimated 80 to 100 condominium units.
“The demand is very strongFilipinos residing and working in the US, as well as foreigners, are looking for good properties in Cebu, and condominiums are a popular choice,”Anthony Leuterio, president and CEO of Leuterio Realty and Brokerage Inc(LRBI) said.
According to Leuterio, the U.Shas always been one of the effective markets for marketing and sales events for the real estate sector, specifically for developers, brokers and sales people, as actual sales and closing of deals are immediate.
He said that there are over 6,000 condominium inventories in Cebu that are up for sale, including those that are scheduled to be completed in the next two to three years.
“Brokers usually endorse condominium properties that are on the pre-selling stage because prices are still affordable,” Leuterio added.
Last year, he noted that the same group generated an estimated sales of P150 million from similar promotional events held in the U.S.
Some 80 percent of the demand in real estate in Cebu are for condominium units priced from P60,000 to P75,000 per square meterThe increase in demand comes from the overseas Filipino workers and foreign buyers from the US, Europe, Australia, Japan and Korea.
Supported by seven property development companies like Apple One, Contempo, King Properties, DurosLand Properties Inc., Primary Homes, Landmasters and Tambuli Properties, the group also held an international convention in New York where developers were allowed to present their products to prospective buyers.
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