First I want to thank you all for your trust & patronage, 2012 has been an exciting year for me as I discovered real estate and became an active broker here in Cagayan de Oro thanks to my clients. I’m also glad that the end of the world did not happened. :)
Today I will share with you my impressions & observations of the changes that happened in Cagayan de Oro and I’ll try to make some guesses about what may happen for the year to come.
The condo Fever
With not less than 4 condo projects announced or started in 2012, we can safely say that there is a condominium boom in Cagayan de Oro and I think it’s only the beginning as it’s actually the result of a simple set of factors.
Developers need to answer the needs of a growing middle class but the costs of the land are higher than ever… and it’s hard to find good spots that are big enough for a full subdivision and close enough to the center.
We can add to that the demographics and it’s more future oriented to build vertically – I call it Makati Style :) – than horizontally in urban areas.
In case you missed them, here are the four projects I was referring to:
- Centrio Tower
- Primavera Residences
- Granvia Suites
- The partner project of LKK & Vista Land (Camella Homes)
It was crisis? Are you sure?
I know from what I read on international news, from my husband – he’s french :) – & from my OFW Clients & Friends that it’s crisis mostly everywhere but if you live in Cagayan de Oro and don’t broaden your view, you can easily doubt of this.
The city has never been so active with countless new projects everywhere. Between the new infrastructures (flyovers…), malls & supermarkets, the new hotels & offices flourishing all around, CDO starts to be ready to challenge Davao in many ways.
I just hope the mayor’s team will find a way to make Recto Avenue less busy in the future… Why not with a parallel avenue closer to the seaside?
I also noticed that the economic growth is not only limited to inner CDO as it used to be, I don’t know if you went to Puerto recently but it’s impressive how this barangay is changing fast.
In real Estate
I already talked about the condo fever above, I’ll talk more about real estate & brokerage as a work here, I can hardly say how it was before but I already saw some changes in my “small” one-year experience. :)
• Clients tend to have higher expectations, it’s good in the way that it’ll make our work better if we want to satisfy them.
• Unlike what it looks like from outside, it’s a lot of work and each transaction requires a lot of attention… I don’t complain though as it keeps me busy.
Furthermore my goal is to make them successful because my happy clients are my best ambassadors. :)
• It’s becoming really competitive, new realties are multiplying like rabbits, it’s an image no offense intended. :)
What about you? What have you observed? What are your thoughts about 2013?
Let’s talk about it in the comments below. :)
Happy New Year to all, may 2013 be as exciting and with more blessings than 2012 was for all of us.