RISE Makati.com - Update and Marketplace

[drbubb]

RISE: 186k /sqm vs 210k /sqm (per Dotproperty)

Makes sense - though Kroma 1BR average is closer to 200k psm
Kroma has Lower density, & a somewhat better location
Having said that. Foreigner units are at a premium to Local-owned @ Rise

OTHER ESTIMATES

ASKING @ RISE: Price Range : Mid-Point v "all-in"
Developer,pmts: $5,800-6,100K: mid: $5,950k/ 212.5k (28 sq M)
Developer,cash: $5,500-5,800K: mid: $5,600k/ 200.0k
Foreigner Units:  $4,800-5,200K: mid; $5,000k/ 178.6k
Local Units——:  $4,200-4,600K: mid; $4,400k/ 157.1k
(Agents who may know better, please comment!)
Price depends on Floor, & may assume buyer pays
The $150K transfer on secondary market,
And perhaps some of the commission.

[drbubb]

UPDATE - RISE MALL Opening soon, probably late Q2. 2019

 

[Guest Xris]

Do you have confirmed information on SM mall being built at Air being Aura like? 

[Guest Xris]

We were at Rise Makati yesterday, the Assembly mall was quite a small mall. If SM will build an Aura like mall in Air, this will be good for the area. 

The hallways some were saying as disappointing, was okay with me even with my wife. I love every bit of the design. 

Though the area looks messy and a little bit off, coming from sophisticated Ayala avenue. I think it will improve a lot once the malls are operational. 

 

[drbubb]

The Mall may seem small, but directly adjacent to it... is a (Larger) mall at AIR Residences

And not far away is the City Gate mall of Ayala

Certainly, when it comes to restaurants, RISE residents will have a large number of choices.

(Personally, I want to see a hardware store at Rise or Air)

[Guest Xris]

^ Will there be n elevated walkway from Rise going to City gate? I hope there will be as walking around Malugay street seems unpleasant as of the moment. 

[drbubb]

23 hours ago, Guest Xris said:

^ Will there be n elevated walkway from Rise going to City gate? I hope there will be as walking around Malugay street seems unpleasant as of the moment. 

A: I believe so... eventually.

MAKATI HUBS may be connected someday with a Covered Walkway

Both Air & Rise will want that for their malls.

But that may come after the Ayala buildings between City Gate  and AXA Tower are rebuilt

Above shows the area around City Gate. Below is a map of attractions near The Rise:

Some agents have also been saying the walkway will eventually be extended down Guy Puyat to 100 West and Dela Rosa station.

If true, that may be a real game changer for the TechZone area, that I call "Little China"

[drbubb]

There are some rumors of One or more Bulk buyers, aiming to hover up the cheap Local units.

Possible sellers may contact me

[drbubb]

TOP REASONS TO LIVE AT THE RISE

1. Rise has well designed units, mostly 28 sqm 1BR with 18 elevators, 50% more than Air Residences next door
2. Great location near top companies and jobs on Ayala Avenue
3. Rise itself will be amenity-rich , like Shangrila’s hotels and residences
4. Rise is above a very nice mall, with great dining & shopping. Also near the malls of Air and Ayala North Exchange
5. Area nearby is gentrifying fast, bringing new jobs, new restaurant choices and other attractions (see below)
6. Transport options on Ayala Ave, and Gil Puyat.  Plans underway to add subways stop at/near Fire Station

* Yuchenko museum, 3 minutes away in RCBC Tower
* Easy walk to Ayala Ave, and to Greenbelt mall, mostly on a covered walkway, protected from rain
* Circuit is also walking distance and will provide performance & entertainment options
* A new Mapua business school is being constructed halfway to Circuit

 

[AlexHK]

Strange type of blue color for Air Residences, and the parts colored in blue seems different compared to the photos on brochure ?

[drbubb]

I am seeing a number of Foreign owned* Units, being sold now in the Secondary Mkt. @ ...

2nd Mkt: ALL-in prices of : P 5.2 M - 5.4 Million (/28 sqm= P185.7k - P192.9k per sq)

This is not just the 100% "contact price" - but includes:

+ EOC, End-Of-Contract payment of 5% of the original contract price

+ Transfer Fee, of P150,000 payable to Shang

+ Commission to agent(s): usually 3-5%.  though there are also some rumors of P50K-P100K commissions

============

*Prices of Locally-Owned units have moved up to P4.7 Million/28= P167.9k & higher (in the secondary market)

Where Shang might get P5.6-6.0Million for a NEW sale direct to a Local Buyer.

For this "100% of Contract price", you need to add 5% for Estimated Other Charges:

Shang's ALL-in prices of : P 5.9 M - 6.3 Million (/28 sqm= P210.7k - P225.0k per sq)

Please Note: Shang has SOLD all the 40% of units for foreigners

- though there may be a reopened unit from Time to time

[Guest Jeff]

Hopefully this thread can be updated, its super informative!!

[drbubb]

I put a lot of time into this (obviously)

It did not generate as much interest and commentary as I expected.

And now, at current price levels, in this challenging environment, I have become Bearish

Will we see LOWER PRICES?? 

The supply of Properties for Sale is going to surge because:

1. Properties still being delivered, and new ones started.  Few projects will be stopped. 

2. People who are afraid will stop buying,

3. Banks will not finance large final payments, when the what is left to pay is BELOW the realistic marlet value of the property, This will force those who cannot make the last payment to sell

4. Flippers will aim to flip to exit their property speculations, if they can,

5. Chinese buyers, who cannot get back to PH will try to unload what they have bought/  

WHERE ARE THE BUYERS who will absorb all this supply? Even if they are there, what price will they be willing to pay now??

[drbubb]

GOOD NEWS, at Last !

OVER TEN THOUSAND POTENTIAL New Tenants?

Finally, some Office Completions are coming to the RISE area

Office Building: Yr. Storeys Leasable /5sq
Alveo Fin’l T.   2021. 49 Fl. grA: 63,700 = 12.7k
Blakes W.E.T.  2022. 36 Fl. grA: 11,432 =  2.3k
Mak. Com’l T. 2023. 36 Fl. grA: 58,000 = 11.6k
Altaire Tower  2024. 45 Fl. grA: 58,273 = 11.7k
========== <2yr. 166fl. ===  191.4k = 38.3k

Could eventually be well over 30,000 employees working in those offices

> new chat on impact of Subway on RISE AREA, etc:

 

[drbubb]

THIS THREAD has gone quiet, long ago.

Meantime there is an Active RISE DISCUSSION Group over at FB:

The RISE Makati for Rent/Sale

Public group, 8.9K members. :  LINK

Notice a thread there with someone bidding 190K per sq for a 2BR.

2BR: Any 2br units for sale below 190k per square?

Max.:   68sq x 190k =12.92M …  73sq x 190k =13.87M

"Maximum List price that will make me want to view"

Seemed to be some decent response to to.  + Many DM's ?

As for RENTS for 2BR's, I saw:

BID RENT at 55k Monthly,  versus OFFER RENT at 85k Monthly.

And I found THIS:

Assuming 65,000 x12= 780k / 13.5 Million, that is a 5.77% Gross yield.