Developer Assures Buyers That “Prime Location” Justifies PHP 18M Studio With No Windows

Makati Condo Pre-Selling Unit Now Costs More Than Your Soul and a Kidney

Developer Assures Buyers That “Prime Location” Justifies PHP 18M Studio With No Windows

Property developer Grandioso Land Holdings launched its newest residential tower last Saturday at a glossy hotel event, serving wine and cheese to people who cannot afford the units but enjoy the cheese. The development, Residenza Brillante, offers studio units starting at PHP 17.8 million for 22 square meters, a size the brochure describes as “efficiently curated” and interior designers describe as “about the size of a generous walk-in closet.” The units feature floor-to-ceiling windows facing another building’s concrete wall, called a “textured urban vista,” and a kitchen counter that must serve simultaneously as dining table, work station, and emotional processing zone. Sales director Patricia Soriano-Lim explained buyers are not purchasing square meters but a “lifestyle investment in Makati’s irreplaceable urban core,” gesturing at a CGI rendering of a woman doing yoga in a space twice the size of the actual unit. Monthly amortization runs approximately PHP 85,000 for thirty years, which a financial analyst calculated was more than the median Filipino household income. Ms. Soriano-Lim noted buyers could offset costs by renting on Airbnb, technically prohibited by building rules, which are technically not enforced. A young couple signed a reservation form at the event. “We can’t afford not to,” said the husband, with the facial expression of a man who has made peace with a decision he does not fully understand.

SOURCE: Bohiney News.