When you’re buying property, there are different elements that you need to think about to ensure that the purchase is worth it. One of the most important factors you must consider is the location.
The location of the property can have a big impact on your lifestyle and happiness. For example, if you live in an area with high crime rates, you will face more stress and anxiety which can affect your health in many ways. Similarly, if you are living close to a noisy street or railway station, then you might have trouble sleeping at night because of all the noise.
You must think about how this property will affect your life after buying it so that you don’t regret later on for making an impulsive decision without thinking about the consequences.
There are many factors to consider when looking for the right location for your property. For example, there are different types of properties you can buy depending on your needs and budget. You need to find a location that has the amenities you require, such as schools, shops, parks, and public transport.
The challenge is finding the right balance between all these factors. It can be difficult to find the perfect balance because there is no one-size-fits-all solution.
With that said, people who want to buy property in the Philippines often consider metropolitan areas and two places that people compare often would be Manila and Cebu.
What Are the Similarities Between Manila and Cebu When Buying Property?
There are reasons why when people are considering buying properties in the Philippines, they often compare Manila and Cebu. They both have similarities in them that we will cover because this is the reason why it’s hard for people to choose one over the other in terms of location for buying a property.
1. Presence of Business Districts
One of the closest similarities between Cebu and Manila is that these regions or areas have a number of business districts. Therefore, it can be a great place to live in because you know there is enough activity in these parts of the country for business districts to develop and grow. You can then find a job or start a business whenever you want.
If you want to live somewhere near where you work as well or where you can get work opportunities, then living near these business districts can be a great choice.
2. Interest in Condominium Projects
Many people who are interested in buying property are looking for specific kinds of properties. One of the most popular types of properties to buy in recent years is a condominium. It’s a common choice, especially for young professionals, to opt to get condominiums. With that said, both Manila and Cebu offer a lot of condominium developments in their area.
There are also a lot of real estate developers who are interested in building more condominiums throughout both Manila and Cebu. Therefore, you may find yourself having an abundance of choices for condominiums in both of these areas.
3. Transportation Issues
Since both of these areas are developed and have a lot of population, a frequent issue that you will encounter here would be ease of movement or transportation. However, they each have different transportation issues two of them.
In Manila, there is such a dense population so there are a lot of vehicles here that travel the roads. That’s why you’ll often encounter a lot of traffic congestion on the roads. However, they have a lot of transportation options.
On the other hand, you will find that in Cebu, there are roads that aren’t as developed as in Manila. However, you don’t have to worry about traffic congestion as much in other parts of Cebu.
4. Township Projects
Another thing that Manila and Cebu have in common is that they have a lot of township projects ahead of them. Therefore, you’ll find a lot of options to buy houses if this sounds like something you’re more interested in buying.
Since there are still a lot of growth opportunities in both Manila and Cebu, a lot of real estate developers are still interested in buying or creating township projects. There are even more options and interest in Cebu since it’s not as populated yet as Manila is.
5. Economic Opportunities
Cebu has a booming tourism industry as it is a popular destination for both local and foreign tourists alike. The province also has a thriving industry in agriculture and fishing which provide jobs to many people living there.
Manila is always the active economic background for many people which is why many people move here from the province. Therefore, both of these places provide some form of economic opportunities for people.
What Are the Differences Between Manila and Cebu When Buying Property?
Although there are a lot of similarities between Manila vs. Cebu when it comes to buying a property, there are also distinct differences between them. Here are the differences between Manila and Cebu that can let you know which one is the right choice for you.
1. Overall Quality of Life
When you’re comparing the quality of life between Manila and Cebu, you’ll find that there is a better quality of life in Cebu than in Manila.
The purchasing power of a person in Manila is lower than in Cebu, but both of them have relatively low power. In terms of safety, Manila is not as safe as Cebu. Aside from that, the traffic congestion in Manila is way worse in Manila than in Cebu right now, but it may grow the bigger Cebu becomes and the more activities there are there.
2. Cost of Living
The cost of living between Manila and Cebu is pretty similar, but there are still key differences between them that can really change the game for the people who live there.
For example, the consumer prices in Manila are more expensive than in Cebu, including the rent. Overall, rent prices are much cheaper in Cebu than in Manila despite both being metropolitan areas. Even eating outside is more expensive in Manila than in Cebu, but there are more options in Manila.
However, groceries are more expensive in Cebu and the purchasing power in Cebu is not as high as in Manila.
There are still a lot of parts of Cebu that aren’t urbanized so you will find more natural areas here that are perfect for adding a feeling of serenity despite the fact that there are a lot of urbanized areas here. Therefore, Cebu can be a better choice if you don’t want to be around the hustle and bustle all the time the same way that living in Manila will give you.
Also, it’s much easier for you to reach beaches and other natural attractions in Cebu than in Manila.
4. Places of Interest
Both of these places have plenty of places of interest that you can entertain yourself with when you’re there, but in Manila, many of these are more within the urbanized areas. Most of them are in shopping malls or districts and other city areas. On the other hand, Cebu’s places of interest are a combination of natural attractions and places in the main city areas.
5. Slight Cultural Differences
If you’re going to live in Manila and Cebu, one thing that you will have to consider before buying property here would be the cultural differences. Although both of these are Filipino at heart, there are undeniable differences in the culture here that can affect how comfortable you are with buying property here.
One example is language. The language people speak in Manila is mostly Tagalog while in Cebu it’s a different language altogether. Therefore, if you plan on staying there for a long time, then it’s a good idea to learn the language of the right place.
What Are the Benefits of Investing in Property From Metro Cebu?
Now that you know more about the similarities and differences between the two metros, you might want to know why you would prefer one over the other. With that said, here are the benefits of investing in property from Cebu.
1. Growing Economy
Cebu has a fairly continuous path of growth ahead of it that you can enjoy and benefit from if you plan on buying property here.
You can benefit from it through business opportunities, job opportunities, and of course, it will make the property that you buy more valuable over time. Therefore, you can profit from Cebu’s growing economy in many different ways. If you invest in a property from Cebu, it can be a more profitable investment for you.
2. An Abundance of Tourist Destinations
Since Cebu is a top tourist destination not only for locals but also for international tourists, one of the biggest benefits that you can find for buying property in Cebu will be the number of tourist destinations that your property can be in close proximity to. This feature can be an added advantage that can add to the sellability of your property.
If you plan on renting out your property or even selling it, you can use that as a point in your favor to attract more potential buyers or tenants.
3. Increasing Value of Real Estate
Another benefit or advantage to buying real estate from Cebu is that there is an increase in the value of a property from here over the years. As this area continues to grow and develop, the more the properties that have already established themselves here continue to grow as well in terms of value. Therefore, if you invest early, you can find your property here increasing in value over time as well.
Since Cebu is a fast-growing area, you want to make sure that you take advantage of that as soon as possible by investing in properties from here as soon as possible as well.
4. Strategic Location
Cebu is in the heart of the country which allows easy access to various parts of the country as well as even to other parts of the world because of its airport. Therefore, if you’re interested in buying a property from here, it will be in a strategic location that is convenient for you if you plan on staying there yourself or convenient for potential tenants or buyers of your property.
5. Better Quality of Life
As mentioned earlier, Cebu has a higher quality of life to offer you than Manila, which is another benefit of you choosing to buy property here instead of in Manila.
You can live a fulfilling life here that is not as expensive as living in Manila while still enjoying many of the other comforts and amenities that you need.
What Are the Benefits of Investing in Property From Metro Manila?
After you’ve now weighed the benefits of investing in property from Cebu, now it’s time to figure out what the benefits are of investing in property from Metro Manila.
1. More Variety of Types of Real Estate
Manila has a lot of different types of real estate that are easy and available to purchase. Therefore, you won’t have any issues when it comes to a lack of variety.
You can easily find commercial spaces here, condos, apartments, rooms to rent, lots, and many other different types of real estate.
2. Continued Interest and Demand for Real Estate
If you buy property from Manila as a form of investment, then you’ll know that there is always demand for real estate here no matter what. Just from the sheer number of people who live here, the businesses in this area, and all that, there will be demand or interest for real estate. Therefore, there will be a lot of options available for you now and in the future.
Your property will also be profitable and will have an easy time finding both tenants and buyers.
3. Easy Access to Many Things
Since Manila is a hub of activity, that means that there are a lot of places in this area where you can do all sorts of things. You won’t be bored finding things to do when you’re there, whether you’re a foodie who wants to try different restaurants or you have a lot of different hobbies that you want to try.
Also, things that you need are easier to access here than from anywhere else.
Flexibility is another benefit that you can reap from buying a property in Manila.
You can easily find tenants from Manila so you can turn it into a rental property. If you don’t want to do that, then you can simply hold on to it and then sell it off at a profit when the property has increased in value.
5. Lots of Things to Do
Getting a job opportunity as well as establishing a business is easier to do in Manila because of the sheer number of them that you can do from here. Aside from that, there’s always something going on here so you won’t find yourself bored, especially if you choose to buy property from the busier parts of Manila.
If you’re the type of person to be easily bored, then there are lots of things for you to do in Manila. There are events of all kinds that people organize here for a variety of interests.
As you can see, property in Manila vs. property in Cebu is a valid comparison to make when you’re planning on buying a property as they both have distinct differences but also close similarities to one another.
They both have their own benefits or advantages if you choose to buy property from there, so it’s all a matter of which ones are non-negotiable for you and which ones you are more willing to be flexible on. Take your time making the right decision since buying properties is always going to be a major decision in your life.
Hopefully, at the end of this, it will be easier for you to decide which one is better for you, regardless of whether it’s Manila or Cebu.