CEBU, Philippines - Online property guide and service provider Lamudi Philippines has ranked Cebu as the fourth best place to retire in the Philippines.
Cebu, with its efforts to attract retirees from all over the world, is competing closely with Imus and Bacoor in Cavite, and Tagaytay.
According to the study conducted by Lamudi, among the top three best cities, Cebu may not seem like the best place for a retiree, but it came out as ideal because of the comprehensive urban amenities it offers.
"And being an island locale, it is very near a good number of tropical resorts and natural attractions, including white sand beaches of Mactan Island," the retirement market guide indicated.
While Cebu offers a good mixture of urban and laid back lifestyle, property costs can be [sometimes] costly, warned Lamudi.
What makes Cebu a bit expensive compared to other retirement destinations in the country is its ability to offer diverse lifestyle preferences for retirees, as well as wider options available in various estates developed by some of the country's real estate giants.
The same study cited the average monthly rental in Cebu, which is at P18 thousand for a two-bedroom townhouse for instance in Lahug. However, rental rates could vary depending on the location like for instance in a more decent neighborhood like Banilad, rent could go up as high as P140 thousand a month for a five bedroom house.
"Our cheaper real property prices, friendly culture in a tropical setting, are just few of the come-ons why retirees from all over the world are picking the Philippines as their top choice for second home investments, and a place to retire," said Philippine Allied Chamber of Real Estate brokers and Licensed Salesmen (PhilAcre) president Anthony Gerard Leuterio, in a separate interview.
According to Leuterio, nearly half of the property buyers in the Philippine real estate market now are foreign nationals who have visited the country as tourists in the past, or clever enough to spot the opportunity of affordable properties early on, before the rest of world could take notice.
Cebu, the second largest city in the Philippines, and the top tourist generator of the country being the gateway to Southern Philippines, is also considered as the most prepared province to accommodate retirees from all over the world.
Here, world-class medical facilities, sophisticated shopping and a vibrant night-life blend well with a relaxed, resort-like, and laid-back lifestyle, Leuterio said.
This perfect combination of urban and island-feel kind-of-living usually captivates tourists to linger on and eventually decide to make this unassuming island-province as their second home, he added.
Its central location in the Philippines, afforded Cebu as the most desirable place to live even for Filipinos from other provinces, as access to all forms of transportation, trade, investments, education, hospitals, beach, is easily within reach.
This modern paradise, blessed with robust economic growth, has also the largest portfolio of retirement homes in the Philippines that can cater from budget-conscious buyers, to the wealthy discriminating billionaires.
Other recommended retirement destinations of Lamudi include; Santa Rosa, Laguna; Calamba, Laguna; Subic Freeport Zone, Zambales; Dumaguete City; Bacolod City; Cagayan de Oro City; Davao City; Baguio City, Tagum City (Davao); Lipa City; and Batangas City. (FREEMAN)