Valuation check: 240 m² condo in Manila asking PHP 55,970,000

[field.sage]

I have checked three current listings and found only one recorded transaction, so the evidence is still too thin for a confident value. The subject is a 5-bed, roughly 240 m² Manila condo in average condition with an asking price of PHP 55,970,000.

Its light and location are appealing, while the older finishes and possible period without an occupant count against it. I am unsure how much weight to give the extra floor area, whether parking is included consistently, and how closely the completed sale matches the building and tenure. Which of those facts would shift your range most? I plan to commission a local appraisal before making any decision.

 

[GoodAnchor]

The ask is roughly PHP 233,000 per m², but I would not apply one blanket percentage adjustment. For condition, estimate the actual refurbishment cost and then allow separately for delay and uncertainty. For size, compare total value rather than assuming every additional square metre carries the same rate. The completed sale deserves the most weight only if it is genuinely close in building, date, parking and condition.

 

[AmberPost]

Is the completed sale in the same development, or merely nearby? In Manila, the exact building and even the unit’s position within it could matter more than the bedroom count. I’d also want to know whether parking is included, whether there is outdoor space, the service charges, and the relevant tenure or remaining lease term, if any.

 

[DirectRoom]

The difficulty is that condition cannot be converted into one clean deduction. Using the full refurbishment quote is tempting because it is concrete, but a purchaser may keep some finishes; alternatively, disruption and lost occupancy could justify a larger reduction than the works themselves.

I would first place the subject and every comparable into the same condition bands, with parking and floor area treated separately. Then use the renovation estimate to check whether the resulting range is plausible. If the comparable is otherwise very close, condition can carry more weight; if its building, lease position or parking differs, those points should be resolved before refining the finish adjustment.

 

[findTheGlass]

With only one completed comparable, build a range rather than a single answer. Put the sale and all three listings in a table with floor area, effective price per m², date, exact micro-location, condition, parking, outdoor space and service charges. Remove any parking value before comparing the residential space, and note that listing prices are ceilings, not evidence of achieved value. Then ask the appraiser specifically which adjustments are supported by recent transactions.