COVID-19: Can I Still Buy a Home in Cebu Now?

COVID-19: Can I Still Buy a Home in Cebu Now?

As of May 20, 2020, the Province of Cebu is already under GCQ or general community quarantine. Under this type of quarantine, individuals will follow less stringent guidelines than those under MECQ or ECQ. (Source) 

Cebu City and Mandaue City, both independent cities, are still under ECQ while Talisay City is under MECQ. These classifications are due to the assessment of risks in the area conducted by the Inter-Agency Task Force or IATF. (Source)

But, should that repel you from buying a home in Cebu right now?

 

Taking Your Needs into Consideration

Of course, during these unusual times, people follow physical distancing guidelines to help prevent the spread of the coronavirus. For this matter, goods and service providers, along with consumers, are encouraged to perform contactless transactions. As a result, people are advised to perform transactions only when they are of extreme necessity.

So, should you buy a home now in Cebu? It depends on a variety of factors. One thing to consider is your needs.

Do you need to have a roof over your head as soon as possible due to certain circumstances? Do you need to relocate to a specific area in Cebu due to a new job or assignment resulting from the current health crisis?

If you are in great need of a home, you definitely need to have one. You should know that the housing industry is still operating. It is important to remember that shelter is still a basic necessity. The industry still caters to people’s housing needs.

 

How Real Estate Companies and Property Developers are Responding

According to this article from the Business Mirror (Source), commercial real estate and office real estate are resilient. As for homebuyers and investors, plenty of options are also available. You can take advantage of a number of opportunities to live or invest in residential real estate. You even have opportunities for purchasing and renting out properties.

You have to expect a new kind of normal way of doing things, though. Almost every transaction right now relies on technology. Virtual processes are in place and are the current trend. These are great means to reduce face-to-face interactions which can help lower the risks of spreading COVID-19.

Many real estate companies are property developers are now taking advantage of current technology to continue serving the housing needs of consumers. Take Aboitizland as an example. As per the Cebu Daily News article (Source), Aboitizland are utilizing digital platforms for real estate transactions. Through these platforms, the different steps in the homebuying process can be made online, ranging from viewing the property to reserving the unit.

If you are interested in buying a property in Cebu, IRL Properties can help you out. We offer various offerings which you can check out at www.irlanozoproperties.com.

 

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