SUNBERRY Homes Inc. unveiled yesterday its P300-million maiden project in the socialized and economic housing in Soong, Mactan.
The real estate firm, which is an affiliate of Contempo Property Holdings Inc., is currently building 400 units of mix socialized and economic house-and-lot units in the 2.5-hectare subdivision.
Prior to its grand launch yesterday, Contempo Property and Sunberry Homes chief executive officer Beverly Dayanan said the mass housing project is already 70 percent sold and about 20 percent of the total house and lot development or 70 house units have already been erected.
The firm started its pre-selling this month. However, since the company’s introduction last year, many buyers have expressed intention to buy units.
u201cThe fast sales take up shows how big the demand of housing in this particular segment is,” said Dayanan in an interview.
According to Subdivision and Housing Developers Association (SHDA) reports, the country’s housing backlog stood at 5.5 million.
Sunberry’s economic housing, which is a two-storey townhouse with floor area of 54 square meters (sq.m) is priced P1.250 million while the socialized housing with floor area of 28 sq.m is priced P450,000.
Most of the buyers, according to Dayanan, are workers in Mactan who are also Pagibig Fund members. She said the low interest rate in housing has attracted more buyers to acquire homes, either for their own use or for investment.
Pagibig Fund has reduced its interest rates from 6.9 percent to 6.5 percent per annum.
In the long-term, Sunberry Homes targets to build more housing projects catering the low-end market. Dayanan said they have acquired five and three-hectare properties in Cebu that can accommodate as estimated 1,500 units. She declined, though, to disclose more specific details for these upcoming projects.
Sunberry Homes is scheduled for turnover by the second quarter of 2016.
Among its amenities include a landscaped park, basketball court, multi-purpose hall, children’s playground and lagoon.