CONCERNS over the “Big One” earthquake have not dampened real estate demand in Cebu, with Overseas Filipino Workers (OFWs) continuing to drive property sales, according to Filipino Homes founder Anthony Gerard O. Leuterio.
Leuterio said fears of a possible major quake in Metro Manila have led some investors to consider other locations, but Cebu’s housing market remains fundamentally stable.
“If you look at Cebu, there’s no major issue. The talk of a bubble is mostly speculation,” he said.
He added that while short-term caution may arise after disasters, long-term interest in property ownership remains strong, particularly among OFWs.
“Filipinos working abroad really want to buy properties in the Philippines. Many of them don’t like the countries they’re living in, and investing here gives them a sense of home,” he said.
Leuterio said the desire to return home and the emotional value of property ownership continue to sustain market activity.
“We’re lucky to have OFWs. Yes, there’s brain drain, but they keep investing back home because they love the country,” he said.
He added that the Philippines’ climate, culture, and hospitality also make it an appealing destination for both returning Filipinos and foreign retirees.
“When winter starts in countries like the U.S. and Canada, many prefer to stay here. Our people are our biggest asset — we’re warm, happy, and welcoming,” Leuterio said.
Cebu’s property developers, he noted, have remained cautious in pricing and project launches, helping the market maintain its balance.
“Condominiums are good investments if the location is right and prices are fair. Developers must adjust to what buyers can afford,” he said.
Leuterio cited that condominiums priced around P3 million remain within reach for many buyers and are performing well in the market.
“That’s a good price point. Developers need to stay realistic to sustain demand,” he added.
Despite talk of economic slowdown and external risks, Leuterio said property investment remains one of the most resilient sectors in the country.
“The market is stable because real demand is still there. Filipinos, especially OFWs, continue to see real estate as the best way to secure their future,” he said.
The Big One
The West Valley Fault — a segment of the Marikina Valley Fault System that cuts through Metro Manila and nearby provinces — is considered the most dangerous in the country. The Philippine Institute of Volcanology and Seismology warns it is capable of generating a magnitude 7.2 earthquake, often referred to as “the Big One.”
The Metro Manila Earthquake Impact Reduction Study (MMEIRS) estimates that such an event could result in up to 34,000 deaths, 100,000 injuries, and P2.4 trillion in economic losses. The last major movement of the fault was in 1658 — 367 years ago — making it long overdue for a rupture.
Colliers Philippines, in its First Quarter 2025 Property Market Report, shared a cautiously optimistic outlook. The firm said Metro Manila’s residential market continues to face challenges due to high inventory and cautious sentiment, but demand for ready-for-occupancy units has improved, driven by promotional offers and developers’ focus on safety and quality.
Stronger housing demand
Outside the capital, regional markets such as Cebu, Davao, Bacolod, Iloilo, Pampanga and Laguna are seeing stronger housing demand, fueled by infrastructure development and a growing preference for suburban living.
“This shift offers a critical opportunity to embed seismic resilience into new developments from the outset,” Colliers said.
The property consultancy underscored that the future of real estate lies in “building smarter and safer communities.”
Developers are urged to integrate earthquake-resistant designs, conduct site-specific seismic assessments, and use advanced construction materials. Retrofitting older buildings, particularly in Metro Manila, remains vital to protecting lives, preserving property values and sustaining investor confidence. / KOC