Now it seems even the office market is getting a piece of the action.
A prominent and powerful personality has been circling a relatively new Grade A tower in a prime Metro Manila business district where vacancy rates are exceptionally low.
There’s a reason why sellers prefer this type of buyer over other bidders.
Apart from their vast and often unexplained wealth, these shoppers are not like you and me. In fact, the usual rules of capitalism and economics don’t seem to apply.
For example, most savvy buyers would demand some kind of discount for a 10-figure purchase.
Not this time.
We’re told the politician gave his brokers very specific instructions to add a P1 billion to whatever is the asking price.
How generous indeed when it’s other people’s money footing the bill.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
