As is the case with most long holidays, there’s going to be a lot of people looking to sun themselves on a beach somewhere sipping ice cold buko juice. It might not seem like a prime opportunity for real estate, but it can be high season for the savviest of buyers. A hyper-supply situation is emerging in Cebu City, and there will be a lack of active buyers due to the holiday period. With so much choice and little competition, you could have your pick at pretty good value with sellers who are trying to close quickly and have been unfortunately caught selling in the holiday period.
But it isn’t all bad news for sellers, the surge of people heading back to the provinces and holiday destinations is a prime opportunity to entice buyers to the possibility for a “change in scenery” with farmland/virgin land or to “live the dream” with a holiday house. This is particularly attractive for buyers at a stage in life where they might be transitioning, whether due to dissatisfaction with their city lifestyle or job, or looking to retire. The boom in seasonal population can highlight a perfect, dynamic environment. But be quick, and tireless qualify your buyers. If your property hasn’t sold after the holiday crowd has left, it may be some time when you have the same opportunity to sell again. Should your property remain on the market for too long, a sense of “stale” may detract from it’s value, buyers may pay more attention to your reason for selling, as opposed to the benefits of the environment.