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Old October 23rd, 2017, 07:08 PM   #1521
584C
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Quote:
Originally Posted by Condodoc View Post
I just checked OLX, and indeed, the developer is selling at >200k psqm, but there are secondary sellers that are selling at a low 141K psqm and a lot of units at 150 to 160k psqm range.

There are difficulties as to the secondary units, because they need to be bought with either outright cash or a more convoluted (but lower cash outlay version) balance take out.

Back of the envelope computation:
If you are buying from secondary market (150k psqm) vs from developer, say (200k psqm) with the latter providing a 10(6)+10(28)+80(turnover) do take note that the delivery will probably happen 3 years from now, so that the 80% will become due at the end of 36th month. Lets simplify to a straight line: at 150k psqm in 3 years at 6 %pa interest: this will bring it to about 179k psqm, much closer to the developer price. I surmise that if you do a NPV calculation with 80% balloon at the end, that you can get a figure close to 200k psqm. So both prices are roughly correct. The market is efficient.
1)
Using 6% discount rate, 200k psm with 10% down, 10% over 2.5 years and 80% 2.5 years later is ~ FV of 205k sqm

150k PV, assuming 60% down now and 40% at turnover, 6% discount rate, FV after 2 years is closer to ~165 k sqm.

Difference is closer to 20%, significant but not ridiculous.

2) Right now cheapest preselling unit (approx 24-28 sqm) is 5.4m peso, with delivery 2.5 years later. Shang Salcedo, which is in better location, higher positioning, has 35sqm studios that are ~5.5m (156k sqm) in secondary market and ~6.5m (180k sqm) from developer inventory. Even Shang Salcedo developer's inventory is cheaper than Rise on a per sqm basis.

3) Nearby Lerato's occasional reopened units are 30-32sqm at 4.3-4.5m (150k sqm). Resale market has units at 4.2-4.5m.

I really don't understand the new Rise pricing. Though I am happy I got into Rise via resale a few months ago at ~130k sqm. If only I have money to buy more at that time, haha.

BGC is interesting too. Existing condos there are selling 120k-150k sqm. Even Serendra has occasional deal at 160k sqm. However, preselling projects have reached 240k sqm, with many at 200k sqm.
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Old October 24th, 2017, 05:06 AM   #1522
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I noticed since last week that the construction has really slowed down.
I've only saw a handful of workers the past week.
I thought it has something to do with the transport strike, with workers not just able to report for work. But it has continued up to this week.
At the rate they we're going, they should have been at 54/F now.
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Old October 24th, 2017, 06:41 AM   #1523
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Quote:
Originally Posted by 584C View Post
1)
Using 6% discount rate, 200k psm with 10% down, 10% over 2.5 years and 80% 2.5 years later is ~ FV of 205k sqm

150k PV, assuming 60% down now and 40% at turnover, 6% discount rate, FV after 2 years is closer to ~165 k sqm.

Difference is closer to 20%, significant but not ridiculous.

2) Right now cheapest preselling unit (approx 24-28 sqm) is 5.4m peso, with delivery 2.5 years later. Shang Salcedo, which is in better location, higher positioning, has 35sqm studios that are ~5.5m (156k sqm) in secondary market and ~6.5m (180k sqm) from developer inventory. Even Shang Salcedo developer's inventory is cheaper than Rise on a per sqm basis.

3) Nearby Lerato's occasional reopened units are 30-32sqm at 4.3-4.5m (150k sqm). Resale market has units at 4.2-4.5m.

I really don't understand the new Rise pricing. Though I am happy I got into Rise via resale a few months ago at ~130k sqm. If only I have money to buy more at that time, haha.

BGC is interesting too. Existing condos there are selling 120k-150k sqm. Even Serendra has occasional deal at 160k sqm. However, preselling projects have reached 240k sqm, with many at 200k sqm.
To me, what I dont understand is that Built Units that are new (less than 5 yo) should be selling higher than under construction as there is much less risk. I can see that people are not pricing in the risks.
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Old November 3rd, 2017, 03:36 AM   #1524
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Construction Progress

Jun 2014 – Start of Excavation
Mar 2016 – Completion of Substructure
Apr 2016 – Start of Superstructure
Aug 2016 – 2nd Floor
Sep 2016 – 3rd Floor
Oct 2016 – 5th Floor
Nov 2016 – 8th Floor
Dec 2016 – 11th Floor
Jan 2017 – 14th Floor
Feb 2017 – 17th Floor
Mar 2017 - 22nd Floor
Apr 2017 - 29th Floor
May 2017 - 32nd Floor
Jun 2017 - 36th Floor
Jul 2017 - 41st Floor
Aug 2017 - 45th Floor
Sep 2017 - 48th Floor
Oct 2017 - 52nd Floor
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Old November 3rd, 2017, 09:06 PM   #1525
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Quote:
Originally Posted by Alimak View Post
Construction Progress

Jun 2014 – Start of Excavation
Mar 2016 – Completion of Substructure
Apr 2016 – Start of Superstructure
Aug 2016 – 2nd Floor
Sep 2016 – 3rd Floor
Oct 2016 – 5th Floor
Nov 2016 – 8th Floor
Dec 2016 – 11th Floor
Jan 2017 – 14th Floor
Feb 2017 – 17th Floor
Mar 2017 - 22nd Floor
Apr 2017 - 29th Floor
May 2017 - 32nd Floor
Jun 2017 - 36th Floor
Jul 2017 - 41st Floor
Aug 2017 - 45th Floor
Sep 2017 - 48th Floor
Oct 2017 - 52nd Floor

What is substructure? why it takes 2 years to construct? and construction of 1st to 52nd flr took only less tban 2 years.
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Old November 6th, 2017, 01:12 AM   #1526
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Old November 6th, 2017, 10:27 AM   #1527
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Quote:
Originally Posted by luis4083 View Post
What is substructure? why it takes 2 years to construct? and construction of 1st to 52nd flr took only less tban 2 years.
I believe the finishing will take longer time than constructing the building
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Old November 7th, 2017, 04:11 AM   #1528
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Quote:
Originally Posted by newton28 View Post
I believe the finishing will take longer time than constructing the building
Yes, the finishing takes longer...but....it can also start earlier, and does not have to wait for the top off..i.e. it has started now, with the plumbing, electrical works and tiling and windows...
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Old November 8th, 2017, 01:09 PM   #1529
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Old November 8th, 2017, 01:10 PM   #1530
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Old November 8th, 2017, 01:10 PM   #1531
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Old November 8th, 2017, 01:12 PM   #1532
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Old November 12th, 2017, 12:50 PM   #1533
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It would be interesting to know how the Rise is constructed from a Wind Engineering point of view. Since the tower is very high and wide and each side is shaped like a big sail the impact power of the wind must be enormous specially since Manila is a typhoon prone area.

For those interested here is a video about Wind Engineering:
https://youtu.be/GZ3kGReRGN0

Last edited by markkram; November 12th, 2017 at 10:28 PM.
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Old November 21st, 2017, 06:10 AM   #1534
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From the current state of construction developments of Rise and Air, Air will be at least 10 meters taller than Rise when completed. Only 9 more floors to go for the Rise to top off.

Last edited by beaconator; November 22nd, 2017 at 05:20 AM.
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Old November 22nd, 2017, 01:19 AM   #1535
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Quote:
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From the current state of construction developments of Rise and Air, Air will be at least 10 meters taller than Air when completed. Only 9 more floors to go for the Rise to top off.
"Air will be at least 10 meters taller than Air" What?
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Old November 22nd, 2017, 04:19 PM   #1536
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Ay parang di pwede magkamali sa thread na to....

I'm thinking of selling my 1 BR unit since I'll be moving overseas. If anyone interested PM me. Thanks.
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Old November 23rd, 2017, 06:07 AM   #1537
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Quote:
Originally Posted by rise&shine View Post
Ay parang di pwede magkamali sa thread na to....

I'm thinking of selling my 1 BR unit since I'll be moving overseas. If anyone interested PM me. Thanks.
When did you get it?
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Old December 1st, 2017, 05:59 AM   #1538
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As of December 1, 2017, the price per square meter of a 1 bedroom unit (28.01 sqm.) of The Rise Makati is around 204,000~213,000 (depending on the unit's floor level).
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Old December 1st, 2017, 09:13 AM   #1539
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Quote:
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As of December 1, 2017, the price per square meter of a 1 bedroom unit (28.01 sqm.) of The Rise Makati is around 204,000~213,000 (depending on the unit's floor level).
Is this from the developer?
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Old December 1st, 2017, 02:19 PM   #1540
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Have any of you guys already seen the actual furnished rooms? I have pics if anyone is interested.
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