Cebu has gained the popular name “Queen City of the South for obvious reasons – it is one of the most prosperous regions in the country following the national capital region. In fact, the Commission on Audit (COA) declared Cebu as the richest province in the Philippines for the fiscal yeal 2019. The Local Government Unit (LGU) received the Annual Financial Report 2019 that the province has assets totaling to P203.9 billion, which was released on their website last January 13 2021 Wednesday evening. Thus being said and looking closely at it, the province’s assets in 2019 was 471 percent higher compared to the P35.65 billion that was posted in 2018. Among other reasons, one of the contributors of the increase was the Capitol’s intensive collection of fees, especially for regulatory and terminal fees.
According to Cebu Governor Gwendolyn Garcia, the decision of the administration to reappraise the value of the province’s real estate properties was key. The appraisal done in 2019 for the government’s real properties became the primary factor in the increase of the assets value. The assets located in the province specifically those within the Cebu City area have at least quadrupled their value after the appraisal. This is the 6th time Cebu has been named as the wealthiest province in the country. Even Cebu’s real estate industry has skyrocketed during the past decade and is still on a head run with real estate developers putting up major landmarks beneficial to the island that attracted more and more local and foreign investors. Cebu has a total of P196.19 billion worth of properties and cash worth P7.7 billion for a total asset of P203.9 billion.
As we all know, Cebu is one of the most accessible places in the Philippines with both domestic sea and air as well as international airport services. Having been known as the tourism gateway for the central and southern part of the Philippines, it has all the infrastructure necessary to be competitive as well as sustain investments. A major benefit of living in Cebu is its amazing public transport that makes getting around so easy, convenient and affordable! You do not need to buy a private car or even rent a car. Less expensive vehicle maintenance costs. There are at least five different types of public transportation here, and all are expat and budget friendly—scooter taxis, tricycles, buses, and the audaciously decorated Jeepneys range from 18 to 70 cents per person per ride. If you feel like riding in privacy, taxis are also very affordable.
Eating like a local will keep your cost of groceries and food low. Just go buy at the wet market and few larger grocers and that would stock pretty much everything. Wet market is certainly the most economical way to shop for fresh pork, beef, chicken, and fish. Eggs are $1.78 a dozen, a liter bottle of olive oil is $6.65, and chicken is $1.65 per pound—so keeping on a budget is pretty easy. If you are looking for a place that has it all, then look up Cebu and make your way to this tropical island. The locals are very proud of the thriving food businesses and menus on the island that goes with unique flavors they created on their own. No wonder Cebu cuisine has built up its own fanbase over the years.
Besides being considered as an investment hub, the beautiful beaches and natural resources of Cebu definitely have added to its charm attracting international tourists and even the foreign expats retirees. Over the years, Cebu City has grown to become an alternative to the highly urbanized capital Metro Manila. The city has established its reputation not only as a premier tourist destination but also as a bustling economic hub. This is why more and more people are getting interested in experiencing the best of leisure and living in Cebu. Due to the influx of foreigners who wish to get their piece of this beautiful city, many condominium and residential communities are being developed. These developments are strategically located in the heart of the city and its various tourist destinations.
Cebu is famous for its beautiful beaches, such as Malapascua, Bantayan, Oslob, Sumilon, and many more. Other than the pristine waters and white sand, beach destinations are also filled with water activities for everyone to enjoy. Some of the best things that you can do on a weekend break are whale-watching, kite surfing, island hopping, and scuba diving. If you want to have proximity to the seaside paradise, you might as well check out beachfront condos and properties.
Message Shirley Chio 0917 555 0601 for properties for sale or homes for rent in Cebu.
Virtual Walkthrough of the Cebu Island https://youtu.be/fqbmdK6ypgw
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