Cebu land values on Mactan Island--?

Question

Does anyone KNOW if the building of the new SM Mall on Mactan will increase property values? If so, by how much and what proximity to the new Mall would you have to be to get the new value?

Answer 1

Hi Mark II. All I can say is that when the mall goes up land values around it WILL increase in value. Historically that has happened every time.

No idea on the amount it goes up however.

Answer 2

If your property is within 5 to 7 minutes walk from the SM mall, there will be increase in value. Depending if your property is on a main road or an inner street will be a factor on how much the increase will be. Many SM malls have sprouted in different areas in the country and the common thing that happens is that owners of the properties around those malls take advantage of the situation by 1) using their property as a paid parking lot for shoppers 2) putting up stalls to rent if they are just across the street from the mall, 3) using their property as boarding houses for mall employees if their property is just around five minutes walk from the mall. (usually converting their existing houses to accomodate boarders/bedspacers)



So yes i would expect the property value to increase in time depending on how good the mall is doing. How much the increase would be anyone's guess. The downside to the increase in value would be the increase in volume of people in your area.

Answer 3

You don't give any information that is of any value in determining value of your land.



How large is the parcel?

Is it flat or not?

How close is it to the new mall?

Is it on a main street or not?

Is your property commercial or residential zoned?



All of this makes a difference. You didn't say you owned the land or if you were interested in buying land. so, why get so up tight with someone trying to help you. Your saracasm says a lot about your personality. You're the fool and if I were not so nice I would say "go fk yourself" but I don't answer crap with crap.