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HOUSE COST ! (Manila)

We are about to make a deal for a Town house in Manila city . With the following specifications , could you kindly let me know what would be the approximate price :

Lot area : Protected content meters
3 floors
House floor area : Protected content meters
4 Br
3 toilet / bath
1 garage
Absolutely unfurnished ( not even a chair )
Location :Manila city
Reminder : It is not Makati , Fort etc.
We have been offered a price . Which I think is ridiculously high ( for a location in old manila ). They are demanding : 6 million pesos .

Since there are several real estate professionals and other experienced expats on internations , it would be kind of you to offer some suggestions on this particular case.
What should be the approximate price at which the deal should be made ?
How should one proceed to make a bargain with the owner in such cases ?
What points must be brought up in order to get a considerable discount ?

Hope to get some good tips .
Thanks . Much appreciated !

Kelvin.

Manila Forum