Wednesday, May 28, 2003

Home buyers urged to see Occupancy of Subdivision before Investing in Unit
By Arvy E. Lopez

ASIDE from the housing units being sold out, prospective home buyers should see whether the subdivision they are planning to settle in is already occupied, according to a property executive.

Roger Gopaoco, general manager of Commonwealth Estate Inc., developer of Villa Del Rio subdivisions in Cebu, said it is very important for home buyers to look into a subdivision first and see if a community has already been formed before investing money for a house.

Some subdivisions may have sold out its units, but still no one is living in the area. And as a result, the subdivision becomes a ghost town," he said.

When a subdivision becomes a ghost town, the amenities would not be maintained, he said.

He also said Commonwealth's Villa Del Rio Mactan has already sold 300 units since the subdivision's launch last year, and 50 percent of the homeowners have already moved into their homes.

The Mediterranean-inspired subdivision, whose house and lot packages are priced from P680,000 to P2 million, still has some 100 units left.

Gopaoco said construction of the remaining houses would probably be completed in 12 months.

Commonwealth, which has an exhibit of the Villa Del Rio Mactan homes in SM City Cebu from May 15 to May 31, has sold out its Villa Del Rio 1 and 2 homes in Talamban.

(May 28, 2003 issue)