By Jeandie O. Galolo
Sunday, November 3, 2013
INVESTING in memorial lots are now growing in popularity among local investors as they see a high return on their investments, a memorial lot broker said.
Unlike in the past years when people only considered condominiums, houses and land as good types of investment, Legacy Plains Developer Corp. (LPDC) broker coordinator Arlene Espira said locals nowadays now see memorial lots as good investments.
Espira said most of her clients buy memorial lots not just because they want to prepare for their death but as assets they can sell in the future for a higher price.
She said memorial lot investors can expect to earn 10 percent of their investment every two to three years. If they decide to sell it on the fifth year, they can earn twice as much as their investment.
In one of LPDC’s memorial gardens, the Celestial Meadows in Minglanilla town, the price for a lawn lot now ranges from P98,000 to P122,000. In 2004, a lawn lot type in Celestial Meadows was sold for P30,000.
Aside from high resale value, Espira said memorial lots also offer “peace of mind” to the investors since there is no need for constant maintenance.
She said the maintenance is shouldered by the developer, which already includes the cleaning of the area and the regular trimming of the grass.
Espira said one of her clients chose to invest in different memorial gardens here in Cebu but refused to invest in condominiums or houses saying that memorial lots are a “hassle-free” investment.
The security in the area is another good reason why investors or those whose relatives are buried in private memorial gardens can also be assured of, she said.
Espira said she is also expecting developers who are planning to put up vertical projects in Cebu to consider investing in memorial gardens considering its profitability.
The earthquake last month could also be another factor for developers to lessen vertical projects and focus more on other developments like developing memorial gardens.
Despite the increasing price of a privately-run memorial gardens, Espira said everyone can own one because there are different payment options that they can choose from.
She said Celestial Meadows has an installment option that people can pay from one to five years. The down payment for a lawn lot type is pegged at P2,500.
Celestial Meadows Memorial Garden is a 2.2 hectare property in Poblacion, Minglanilla.
Espira said 90 percent of the property has already been purchase, with 70 percent used. It offers different lot types, including lawns, gardens, court estate and family estate.
LPDC also developed memorial gardens in Toledo, Naga and Moalboal.
Espira said the developer is considering northern part of Cebu and its neighboring provinces.