The lockdown brought on by COVID-19 wasn’t enough to dampen property demand in Cebu. Property developer Cebu Landmasters recorded a 20 percent increase in housing sales during the first half of 2020 when compared to the same period last year. The homebuilder sold PHP6.2 billion worth of residential units between January and June.
“Our projects have maintained high sales velocity indicating strong demand for houses in Visayas and Mindanao particularly now that owning a home has become a priority,” Cebu Landmasters Chief Executive Officer Jose Soberano told The Star Online. “The pandemic is making buyers realize the necessity to live in safe and secure communities. It serves as an added push for families to buy their much-needed home, and they see that Cebu Landmasters housing brands fulfill their requirements particularly our economic and mid-income communities.”
Despite a lockdown preventing the public from traveling or visiting showrooms between April and June, the firm still managed to sell more than 1,500 properties in the affordable and mid-market segments during these three months.
In order to help accommodate buyers during the lockdown, Cebu Landmasters improved its digital capabilities that ensured it could keep up with demand. The developer digitized the transaction process to make buying possible even if buyers couldn’t meet them in person.
“Even prior to the lockdown, we had already foreseen the need to go digital. Early on, we took the necessary measures to make the buying transaction accessible and convenient to our sellers and buyers online – from the selection of properties up to the payment of reservation fees and down payments,” Cebu Landmasters Vice President for Sales Rose Yulo said.
Cebu Landmasters believes there was a reason buyers were active during the lockdown, even if logic dictates sales would normally slow down during a time like this.
“We can see buyers now putting even higher priority in owning a home. Perhaps this is their way of securely dealing with the many uncertainties and investing in housing is as stable as it is necessary,” Soberano noted.