Ma. Luisa Phase 9 lots sell very fast

Maria Luisa Estate Park disposed all of the 40 remaining lots of Phase 9 with much ease.

Jose Enrique R. De Las Peñas, the spokesperson of the family-owned lots on Phase 9 said during a secret sales exhibit at the Marco Polo Plaza Hotel that majority of their buyers were there close friends and associates.

He said that most of these buyers are young but successful Cebuano entrepreneurs who saw a good deal in buying their lots.

He pointed out that the fast take-out of their lots showed that despite the ongoing financial crisis, people are still on the lookout for real property investments.

De Las Peñas said that real estate could still be considered a booming industry despite the crisis because a lot of people still invest.

“In certain times, a crisis also help real estate because as long as you give value for money and give home buyers the best price, people will want to buy a property for themselves,” he said.

One home buyer who refused to be named said that the reason he bought a lot in Phase 9 is because it offered a good opportunity and nowadays, real estate investment is better than acquiring liquid assets in bonds or stocks because land property has an appreciating value over time.

De Las Peñas added that because they were the landowners, they were able to decide how much the best price to sell for the available lots.

He said that the lots were on sale ranging from P5, 000 to as high as P10, 000 per square meters and they sold lots from 335 square meters to 1115 square meters.

These lots offered mountain and city view and the negotiations for these lots were direct through the landowners.

De Las Peñas said that Maria Luisa Estate Park Phase 9 offered a very good deal for the home owners because it offered prestige, proximity, privacy and affordable pricing.

He said that their site has access to the two entrances in Busay and in Banilad so it is very accessible.

The entire Phase 9 sums up close to 16 hectares and it has a total of over a hundred lots with the 40 lots recently sold were the last ones available.

Since they sold only raw lots, the homeowners are given the free hand in designing and customizing their own homes as most Ma. Luisa homeowners have been privileged to do so, said De Las Peñas.

The De Los Reyes and De Las Peñas have owned the lots for a long time as it was bought by their patriarch long time ago.

De Las Peñas said that his grand father saw the business potential of the area but they did not immediately see how big it was until then because at that time the Maria Luisa Estate was still on its first phase of development and their lots were very far from it.

He said that the development of the entire property was in partnership with the developers of the Maria Luisa Estate as they did the infrastructure and road constructions in the area.

He said that the neighborhood of Maria Luisa Estate Park Phase 9 will be one of the most exciting communities in the city because most of the homeowners knew each other.

During the sales exhibit, three banks participated, which included China Trust, Export and Industry Bank and the Bank of Philippine Islands (BPI) to offer affordable financing schemes to buyers.—Rhia de Pablo