A ₱3.6 million residential condominium sits at an important price point under current Philippine tax rules. For buyers looking at Harbour Park Residences in Mandaluyong, a selected 27.2 sqm 1-bedroom unit with balcony is currently being offered at a ₱3.6 million base price, alongside a ₱100,000 promotional discount. The more useful question is not simply whether there is a discount, but what the pricing means in practical terms.
The ₱3.6 Million VAT Threshold Is Based on BIR Rules
Under BIR Revenue Regulations No. 1-2024, the VAT-exempt selling-price threshold for the sale of a house and lot and other residential dwellings was adjusted to ₱3,600,000, effective January 1, 2024. The regulation states that residential dwellings with a selling price of not more than ₱3.6 million fall within this VAT-exempt threshold, subject to the applicable provisions of the tax rules.
This matters because VAT can materially change the cost of a property.
For someone comparing condominium units around Metro Manila, the distinction between a property priced at the threshold and another priced above it can therefore be worth examining carefully.
The BIR regulation also provides for the threshold to be adjusted every three years using Consumer Price Index data from the Philippine Statistics Authority.
That is why buyers should verify the applicable tax treatment at the time of purchase rather than assuming that today’s threshold will remain unchanged indefinitely.
What Is Being Offered at Harbour Park Residences?
Based on the current project offer provided for Harbour Park Residences, a selected unit has the following specifications:
- 1 bedroom
- 27.2 sqm
- With balcony
- ₱3.6 million base price
- ₱100,000 current promotional discount
- Ready for occupancy
- J.P. Rizal St., Mandaluyong City
The 27.2 sqm configuration itself can be independently seen in existing Harbour Park Residences listings. One current accommodation listing describes a Harbour Park unit as a 27.2 sqm 1-bedroom condominium with balcony and identifies the development as being along J.P. Rizal in Mandaluyong.
An older owner listing also described the same 27.2 sqm configuration as approximately 25.2 sqm of interior space plus a 2 sqm balcony. Because that figure comes from an individual owner rather than official project documentation, buyers should still confirm the exact floor-area breakdown for the specific unit they are considering.
Why Base Price and Total Contract Price Should Not Be Confused
A base price of ₱3.6 million does not automatically mean that every amount a buyer will pay is ₱3.6 million.
Property transactions may involve other charges depending on the developer, financing arrangement and transaction structure.
Before making a reservation, buyers should ask for a written computation showing the actual amounts involved, including the applicable selling price, discounts, taxes, fees and other charges.
This is especially important for buyers concerned about hidden ownership costs, association dues, financing requirements and long-term monthly obligations—issues that commonly create uncertainty when moving from renting to owning.
The safest approach is simple: request the complete computation and have the seller explain which amount is being used for VAT purposes.
A Discount Is Useful, but It Should Not Be the Main Reason to Buy
The current ₱100,000 discount can reduce the cost of the selected unit, but a discount alone does not determine whether a condominium is suitable.
A more useful evaluation includes the unit size, location, recurring expenses, financing cost, actual building condition and how the property fits into the buyer’s daily routine.
Harbour Park Residences is already ready for occupancy, which gives prospective buyers one practical advantage: the property can be inspected in its completed condition.
Instead of evaluating only artist renderings or future promises, buyers can assess the actual hallways, elevators, common areas, unit dimensions, balcony, building access and surrounding neighborhood before making a decision.
Location Is Part of the Calculation
Harbour Park Residences is located along J.P. Rizal Street in Mandaluyong City, close to the Mandaluyong-Makati side of the metro.
A current Harbour Park accommodation listing describes access to Makati destinations including Poblacion, Rockwell and Makati Avenue from the property.
For people whose daily routine regularly involves Makati, location can be more financially relevant than it initially appears.
Transport cost is only one consideration. Travel time, Grab expenses, public-transport dependence and the amount of time spent commuting are also recurring parts of city living. These are among the practical housing concerns buyers frequently weigh when considering a move closer to major business areas.
Actual travel times, however, vary significantly according to traffic, weather, time of day and destination. Buyers should test their own commute rather than relying solely on advertised driving times.
What Buyers Should Verify Before Using the “No-VAT” Label
The factual basis for the current VAT discussion is clear: the BIR threshold for qualifying residential dwellings is ₱3.6 million under Revenue Regulations No. 1-2024.
But buyers should still verify that the specific transaction qualifies.
Before paying a reservation fee, it is reasonable to request:
- The official price computation for the exact unit.
- Confirmation of the selling price used for VAT purposes.
- A breakdown of charges outside the base price.
- Association dues and other recurring building expenses.
- Financing assumptions, if purchasing through a bank or other loan facility.
These questions are more useful than simply asking whether a property is “discounted.”
Why August 27 Is Worth Paying Attention To
As of August 27, 2026, Harbour Park Residences is presenting the ₱100,000 reduction as a last-call promotional offer on the selected 1-bedroom unit.
The promotional deadline itself comes from the current project offer and should be confirmed directly with the seller.
The more durable fact is the current tax environment: a residential dwelling priced at not more than ₱3.6 million falls within the present BIR VAT-exempt threshold, subject to the relevant rules.
That makes a ₱3.6 million base price an unusual point worth examining carefully—not because buyers should rush, but because small differences in property pricing can have tax consequences.
For someone already searching for a ready-for-occupancy 1-bedroom condominium in Mandaluyong, the sensible next step is not to buy because a discount is ending.
It is to obtain the complete computation, inspect the actual 27.2 sqm unit, confirm its VAT treatment, compare the total cost with other available properties, and decide based on the numbers.
Harbour Park Residences
J.P. Rizal St., Mandaluyong City
Selected 1-bedroom unit: 27.2 sqm with balcony
Current stated base price: ₱3.6 million
Current stated promotion: ₱100,000 discount
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