While there is no official data on the actual statistics of housing backlog in Cebu, industry estimates run from between several hundred thousands to as many as a million units.
Reasons for the shortage:
1️⃣ Rapid Urbanization (within Cebu)
2️⃣ Population Growth
3️⃣ Local Migration (from outside Cebu)
4️⃣ Scarcity of Land
Real Estate developers are now scampering for whatever developable sites they can get their hands into in order to have a residential project to develop.
Even small parcels of land in inner city locations are now being utilized as pocket subdivisions or low rise condominiums.
A substantial number of upcoming projects are now being built on reclaimed spaces in Cebu and Mandaue cities.
Land prices in Metro Cebu have dramatically increased (doubled or more) in the last 5 years.
With a good number of local and national real estate developers currently doing business in Cebu, it remains to be seen if the housing backlog will be addressed soon or the disparity between demand and supply will continue to widen.
InfoCebu 