Tuesday, October 02, 2007 Igacos real estates selling like hotcakes By Carlo P. Mallo
WITH the Island Garden City of Samal (Igacos) being dubbed as the next vacation hotspot of the country, real estate in the island is selling like hotcakes.
Even agricultural estates are subdivided into smaller lots and sold for residential use.
Prices of real estate properties in the Island Garden City of Samal skyrocketed after it was "discovered" and was dubbed to be the next hottest piece of property in the country.
"It is in violation of the zonal classification laws," Rose Taasan said in Monday's Kapehan sa Dabaw at SM City Davao. Taasan added that such activities are already being closely monitored right now.
"The city of Samal is primarily composed of agricultural areas, however, with the boom of the area, it was greatly affected by the high demand for land in the island," Taasan said.
"The local government unit of Igacos has already required that all lands be registered with them in order for them to monitor," Taasan said.
But Taasan made it clear that a P2 billion real estate investment of one of the country's largest real estate developers has duly complied with the zonal system of the island city.
