If it is about Philippine, there is a continuous growth in its real estate market and more and more Filipinos are offered with the kind of homes that they want. It is particularly true if we talk about Cebu City. Cebu City is considered to be the Queen City of South for Philippines and has been the key trading market for overall industry.
Investors and business men, both internationally or locally, have seen Cebu City, Philippines as an investment level city that has so much space for the expansion. A huge boost in the entire city is actually the manufacturing sector which is in Lapu-Lapu Meza 1 and 2. They contribute around 40% of the labor sector in Cebu City. Manufacturing business such as fabric, electronics, rubber and even research and development continuously grow in Meza.
One more contributor of the GDP growth in the Philippines is the BPO or Business Process Outsourcing industry which has given Cebuanos some bigger opportunities to work with comparatively higher wages and better advantages than other rival countries. Some of the analyst from Asia and Philippines continuously project this BPO industry growth and predict that it will be growing for the next 10 to 15 years as many companies around the globe are looking for some better and improved ways for cost cutting.
Without any doubt, the main contributor of the growth in Philippines is labor in the other countries that are more commonly known as OFW or Overseas Filipino Worker. The OFWs who come here to work form different countries to financially support their families send currencies to add more monetary value to Philippines. Moreover, as most of this money is sent through OFWs which is much bigger and it allows Filipinos to earn much more in the Philippines and it ultimately fills in biggest financial capacity for every family who is under the support of OFW.
All three factors combine to lead a healthy real estate industry in Cebu. Houses and other properties in Cebu are constantly being bought every day. From houses and lots, raw lots, condominium and even townhouses investments are broadly acquired by Cebuanos with maturity in financial investment in the real estate sector.
Around 6 out of every 10 OFWs now have begun to buy a condominium or a house for an investment and for their family needs. The local people of Cebu are proud that this real estate is really emerging day by day. You can click here to find more facts about Cebu property and its growth.