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Old March 5th, 2018, 02:17 AM   #21
bazinga88
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I'm curious to know what is the price tag. May pagka-absurd ang SMDC these days when it comes to pricing.
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Old March 5th, 2018, 06:14 AM   #22
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Quote:
Originally Posted by bazinga88 View Post
I'm curious to know what is the price tag. May pagka-absurd ang SMDC these days when it comes to pricing.




one bedroom 26.5 starts from 7m
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Old March 5th, 2018, 08:33 AM   #23
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Quote:
Originally Posted by jezhang View Post
one bedroom 26.5 starts from 7m
WOW! Seriously???
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Old March 6th, 2018, 02:33 AM   #24
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Quote:
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one bedroom 26.5 starts from 7m
LOL. If this is true, SMDC should think about getting off the high horse.
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Old March 6th, 2018, 08:53 AM   #25
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If I am not mistaken, this project was sold out the day it was launched. One Chinese investor bought the entire building.

Please verify if this is true.
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Old March 6th, 2018, 10:25 AM   #26
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If I am not mistaken, this project was sold out the day it was launched. One Chinese investor bought the entire building.

Please verify if this is true.
And now they're trying to re-presell it at a hefty price
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Old March 6th, 2018, 05:17 PM   #27
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One website published its prices already and they are, as what most said here, rediculously high! Much higher than Air Residences.

Well SMDC's strategy i think is to make those potential buyers of Red Resi realize that it would be better to purchase Air Residences instead since it shall be completed first. This in turn will help Air's inventory. And then they can focus on Red's sales.
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Old March 13th, 2018, 04:10 AM   #28
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There are a gew available units left. SM wouldn't allow one person to own the whole building. As to what I heard from the rumors. The Chinese also bought units in Fame Residences in Mandaluyong
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Old March 14th, 2018, 09:05 PM   #29
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Quote:
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one bedroom 26.5 starts from 7m
SMDC and Megaworld are working with Chinese brokers on "special bulk purchase deals".

Example: In Dec 2017, SMDC remaining Jazz inventory were valued at ~240k/sqm. Chinese brokers started distributing "special cash deal" with discounts of 30%-35% that lowered the selling price to ~160k-170k/sqm.

This allows Chinese brokers to market "great deals" to their customers.

This allows developers to get higher prices for their inventory (Jazz are going ~130-140k/sqm in resale market).

This makes the Chinese buyers feel happy that they got a big discount and a great deal.
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Old April 27th, 2018, 11:37 PM   #30
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1BR with balcony, 26.04 sqm, is almost P7.1M (inclusive of other charges) or P273K per sqm. It is not even centrally located. Parang ayaw mag-pabili.

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Old April 28th, 2018, 03:55 AM   #31
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I think they are taking advantage of the mainland Chinese buyers. No sane local would even consider purchasing it at that price. Buti kung maganda yung location, at best its a meh/pwede narin.
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Old April 28th, 2018, 04:40 AM   #32
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Sabi ng isang taga Feferal...sold out daw si Red nung launching. Sabi ko naman, baka gaya din ng press release ng ibang agents with another developer na sold out tapos babalikan si client na may reopen 1 unit, kunin na or else.

Always check with the developer

Sana lang hindi pinaparactice ni smdc yung bulk sell to chinese kahit lagpas na sa 40% allocation...kawawa ang pinoy na hindi na maka afford sa pag balloon ng price
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Old April 28th, 2018, 04:47 AM   #33
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On another note, the pricing of this project must have lead FLI to increase its pricing by almost 25% for the adjacent soon to be RFO Paseo de Roces last April 1

Then sa left side naman is a Megaworld property but no leaks yet kung condo din yun, anyone?
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Old April 28th, 2018, 09:20 PM   #34
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In China, property developers often offer "bulk purchase prices" to individual or groups of individual buyers who buy many units at one go. Chinese buyers have come to expect "heavily discounted bulk purchase prices".

Hence, SMDC and Chinese agents collaborated to give the Chinese buyers what they want. If one can buy in sufficient bulk, 35% discount is easily obtainable for SMDC condos. In early 2017, one Chinese millionaire was offered 70+ remaining units of SMDC AIR inventory at ~110-120k/sqm, while AIR's list price at that time was ~170k/sqm.

The way I see it, 265k/sqm for RED means the Chinese bulk buyers probably get in at ~180k/sqm, which is still high and gives fat profits for such a location.

Megaword gives at least 25% discount for bulk purchase made in cash. That is how they cleared their remaining inventory in One Central at 2017. There was a 300+m peso bulk purchase then by a major POGO company for use as staff dorm. List price was 180k/sqm then if I am not wrong.

Look it from another angle. If your product is worth 1000 peso, will you want to sell it for 650 peso?
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Old April 29th, 2018, 06:10 AM   #35
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Quote:
Originally Posted by 584C View Post
The way I see it, 265k/sqm for RED means the Chinese bulk buyers probably get in at ~180k/sqm, which is still high and gives fat profits for such a location.

Look it from another angle. If your product is worth 1000 peso, will you want to sell it for 650 peso?
Does SMDC still have control on the pricing when the chinese investor decides to offload them?

With Megaworld, I understand that the price youll get regardless if a unit came from developer's inventory or from a bulk investor(re-seller) will be the same.

265K per sqm im afraid is a price not anymore based on fair market value in that area.
Im sure they wont have a problem re-selling them to kapwa mainland Chinese but goodluck offloading such to locals.

This is a good discussion. Thanks for commenting on such issue.

Last edited by azumiii; April 29th, 2018 at 08:42 AM.
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Old April 29th, 2018, 09:39 AM   #36
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I don't think SMDC retain control over pricing because many Chinese agents' sales pitch for resale Sea Shell Shore units are "2m peso below market price". It is absolutely garbage lie. Market price is the price where people buy at. It should be "2m peso below developer's inflated list price".

In the last one week, I saw at least 10 preselling resale Shell/Shore units being offered at "24-27sqm" for "3.85m-4.20m". SMDC list price is at least 6m.

I doubt Megaworld retain control over prices. One Uptown Residences are being turnovered now. Can find preselling resale units there for 150k-160k/sqm compared to Megaworld's 220k/sqm inventory. Megaworld sold lots of Gentry Manor to Chinese at 250k/sqm list price. Quite sure there are discounts in Gentry Manor, because in Q4 2017, another developer sold preselling condos at a nearby lot at ~150k/sqm to Chinese buyers. I think there were so many buyers that the developer didn't even bother to do a sales launch. I know because my Chinese friend got an entire floor together with some friends.

At current preselling condo levels (Cubao at 160k? Vertis North at 160k?) I think land in NCR or BGC resale condo at ~150k/sqm are better value proposition. In fact, I am trying to get a local partner so that I can buy a lot or two in my baby's name instead.
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Old April 30th, 2018, 04:35 AM   #37
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Sad to learn foreign investors are up and about crushing my dream of owning another condo at sane pricing. Huhu.
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Old April 30th, 2018, 05:59 AM   #38
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For new condos, BIR seems to be setting zonal values at developers’ prices for the last unit they sold. Imagine selling your Shore 2 unit at ~180k/sqm and need to pay CGT based on zonal value of close to 300k/sqm. And Real Property Tax may also be affected. Pasay/Paranaque BIR will have rich time feasting on the Chinese.

On the other hand, DMCI condos are not bad. They have one beside St. Benidle to be launched in 2 months’ time. And with Parklinks, DMCI condos at Pasig blvd area seems promising too.
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Old April 30th, 2018, 09:42 AM   #39
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^in fairness to dmci, they stopped allowing bulk sale to foreign investors. Same with Federal Land allowing maximum of 2 units per client.
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Old April 30th, 2018, 10:16 AM   #40
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Developer's inflated price.
That is the correct term.

Just last week a family friend wanted to resell their unit at Shore for 6M. I asked why 6M and they said SMDC says its the current value of their unit now. Had to educate them of the real basis of fair market value vs developer's price increases then showed them a list of resale units with prices starting at 4M to 4.5M

Quote:
Originally Posted by 584C View Post
I don't think SMDC retain control over pricing because many Chinese agents' sales pitch for resale Sea Shell Shore units are "2m peso below market price". It is absolutely garbage lie. Market price is the price where people buy at. It should be "2m peso below developer's inflated list price".

In the last one week, I saw at least 10 preselling resale Shell/Shore units being offered at "24-27sqm" for "3.85m-4.20m". SMDC list price is at least 6m.

I doubt Megaworld retain control over prices. One Uptown Residences are being turnovered now. Can find preselling resale units there for 150k-160k/sqm compared to Megaworld's 220k/sqm inventory. Megaworld sold lots of Gentry Manor to Chinese at 250k/sqm list price. Quite sure there are discounts in Gentry Manor, because in Q4 2017, another developer sold preselling condos at a nearby lot at ~150k/sqm to Chinese buyers. I think there were so many buyers that the developer didn't even bother to do a sales launch. I know because my Chinese friend got an entire floor together with some friends.

At current preselling condo levels (Cubao at 160k? Vertis North at 160k?) I think land in NCR or BGC resale condo at ~150k/sqm are better value proposition. In fact, I am trying to get a local partner so that I can buy a lot or two in my baby's name instead.
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