By Mia A. Aznar
Thursday, September 30, 2010 [ sunstar.com.ph ]
AS MOST of the flat lands in Cebu City have been developed, many Cebuanos are now switching to condominiums as an alternative to subdivisions, housing developers observed.
Ryan Ybañez, project development associate manager of Avida Land Corp., said many Cebuanos now find condominium living a viable alternative.
Ybañez revealed that they sold 90 percent of the 518 units of the Avida Towers in three months.
Seeing its success, Avida Land Corp. will be launching Tower 2 today, with 527 units.
Ybañez said the perception of condominiums as being for the elite has changed, as many new homeowners are buying condominium units to be closer to their workplaces.
Avida Towers is located at the Asiatown IT Park, where offices for business process outsourcing are located.
Avida Land Corp. is the affordable real estate arm of Ayala Land Inc.
Jay Visco, head of marketing and sales of Ayala Land Inc. in the Visayas and Mindanao, said most of their buyers are from the local market and they have not aggressively tapped foreigners and overseas Filipino workers.
The Avida Towers is mainly aimed at singles, young professionals, newly married couples and starting families.
The units are from studio units to two-bedroom units ranging in price from P1.6 million to P4.1 million.
Visco noted that their buyers are either investors, who take advantage of pre-selling prices and will later resell or lease their units, or end-users, who buy the units to live in them.
With just 35 units left to be sold, Visco said many buyers have expressed interest in buying units at Tower 2. This will feature views of the sea from the 17th floor and up.
The condominium will have 22 residential floors, while the first three floors will be for parking.
Ybañez assured that while the Avida Towers is a condominium, it has amenities such as a clubhouse and swimming pool that will make living in the area similar to living in a subdivision.
He also said Avida Land Corp. is looking for locations to put up more condominiums and villages around Cebu City.
Published in the Sun.Star Cebu newspaper on October 01, 2010.
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