drbubb Posted August 6, 2016 Report Share Posted August 6, 2016 Everyman's Jazz DATA - Buying, Selling & Renting Estimates at Jazz Residences========================= PRICING, VALUATION, and DISCUSSION Note: The "Everyman's Jazz Agency" is an informal network of owners, tenants, investors, and friendly agents / who share info on prices & opportunities at the Jazz Residences. / We will plan to have occasional meetings. Please join and post your ideas, info or interest here, or Message me to find out more. Update (8/2017): No recent meetings, but updated the Pricing Model in post#15. : Jazz Meet-up: Mastermind Property Group Location I have friends who have properties and/or are considering buying/renting at Jazz Residences in Makati, and they have asked me to look into how I would estimate current property prices at Jazz in light of the changing market. I am starting this thread to look historical valuations and will also monitor how these valuation estimates change over time. We will also talk about the pluses and minuses of living at Jazz and the attractions of Buying or Renting there Condo Price Index for Makati (above) compares Capital Values with rent rises / see: DATA Starting with the Valuation question, I want to look at How JAZZ valuations compare with the Colliers index for Makati Jazz Residences has 4 Towers, 37 residential floors / top is 47th, with 29 - 47 units per floor. About 5,300 units in total. Flat Sizes : (Studio): 20 - xx sm / (1 BR): 28-32 sm, (2 BR): 32 smRent below assumes 1BR without Balcony (25 SM) The following Table assumes that Jazz values will be below the average (per sm) that Colliers estimates for Makati, because of the somewhat "fringe-y" location of Jazz, and because Jazz is a high-density project from SMDC. The "Sell-Pr", below is the estimate average Selling Price, if one bought at that time from SMDC, the Developer. Higher floor units may be more expensive, and lower-floor units, and or those with an impaired or cemetery view may be lower. SECONDHAND PRICE MODEL for Jazz ResidencesQtr.-Yr : Makati : xPct : Sell-Pr: Disc: "quick"// MakRentxPct: psm: Rent-SF- Disc = Bare (25 SM) 4Q /11 : 109,202 : 82 % : P 90.k :4Q /12 : 118,000 : 83 % : P 98.k : 88.% : P 86 k // 720 :4Q /13 : 134,908 : 83 % : P112k : 88.% : P 99 k // 805 :4Q /14 : 144,500 : 84 % : P121k : 88.% : P106k // 838 :4Q /15 : 151,300 : 84 % : P128k : 88.% : P113k // 883 x 90. % :1Q /16 : 152,000 : 84 % : P128k : 88.% : P113k // 868 x 90. % : 781 : 19,500 - 4.0k = 15,5002Q /16 : 147,500 : 87 % : P128k : 88.% : P113k // 858 x 90. % : 772 : 19,300 - 4.0k = 15,300Aug.16 : 147.5kE : 87 % : P128k : 88.% : P113k // 855Ex 90. % :(updated 8/22/16) ================(CODE for column abbreviations: see bottom of this post) ======Data points used to produce the figures shown above:+ XX+ 2Q /15: Seller seeking P 3,050M: Twr-B, 1-BR (/27sm? = P113k psm) , 35th Fl, Amenities (SSC-#3803)+ 2Q /16: SM agents have told me recently that the cheapest flat still available at Jazz is near P4.0 million, or P135k psm, for a flat on the 29th floor which does not face the cemetery. I have adjusted it downwards to P13X k psm, based on my assumption that the middle floor is the 23rd, and I have made an adjustment of -xx%, or 0.3% per floor. (need to replace the above - with new info) + Aug.16 : the cheapest flat still available at Jazz is P4.1 million, or P128k psm, for a flat of 32 SM CODE:Makati : the mean price for 3BR flats in Makati, as reported in Collier's quarterly report, The Knowledge, see DATA xPct. : the estimated Percentage of Index prices represented by average prices at Jazz; Post-completion: expected initial asking price Sell-Pr: the estimated official List price for Jazz flats. as offered by the developer, SMDC Disc : the percentage of the "official" selling price that a cash buyer might pay; or for Resale units "quick" : the expected price where the buyer pays cash, or does not require seller financing, and closes reasonably fast // MakRent the median rent for 3BR flats, expressed as Peso per sq meter, as reported by Colliers xPct : the percentage of the Colliers mean rental that a tenant at Jazz might pay in Sq m - Jazz flats are smaller Rent-SF approx. Monthly Rental price for a semi-furnished flat, where the landlord pays Association fees - Disc : discount, if the flat is rented unfurnished, or bare Bare (25 SM)LINKS: =======To here-- : http://tinyurl.com/JazzAgencySSC-Jazz : http://www.skyscrapercity.com/showthread.php?t=1343265 Online --- : OLX : https://www.olx.ph/all-results/q-jazz-residences-makati/ Rentpad- : http://rentpad.com.ph/q/jazz-residences ========= Want to list YOUR property here? It is Free for our members. Here's how to Join Makati Prime : ( go to post#2 : HERE / think: "admiral byrd") Link to comment Share on other sites More sharing options...
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