I can't argue it you there, buying and selling costs are high but the property is currently very cheap for the quality you are getting, I have the pictures of the finished first tower and it is well swanky.
I don't think I can change your beliefs by mere argument, as I could be viewed as biased. However my post was originally stating that I would be there, and I would because I generally feel value for money and growth potential generally rule when selling property and the Manila Atrium apartments have oodles of both.
You just mark my words, someone who has bought in the first tower will no doubt sell in about six months for about a 12% profit. Don't forget the high CGT is a percentage of the profit, not a percentage of the price, and a buyers transaction costs are levied on the buyer not the seller. I genuinely believe there is money to be made in Manila.
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