One of the most popular type of housing in the Philippines today are condominiums. Compared to other forms of housing, such as townhouses, apartments, and most specifically houses, condominiums have grown to become a very popular type of housing because of its many advantages and benefits. So what are its advantages over other types of housing?
Compared to townhouses and houses, condominiums are much more affordable in terms of permanent residence. Houses and townhouses available in the Philippine market today ranges from hundreds of thousands to millions, depending on the city as well as with its location. Houses available in Manila today can go up from P1,000,000 Philippine Pesos to as much as P10,000,000 Philippine Pesos. Condominium units, on the other hand, would only cost half the original price of houses and townhouses, only ranging from P500,000 Philippine Pesos to a million.
Another advantage of owning a condominium unit is its location. Most condominium available in the market today are those found inside a major city, such as in Makati City. According to Real estate Philippines experts, this allows it to be within walking or mass transit distance of business and industrial areas of the city. Another popular location of condominiums are those found outside of major cities, particularly those found in provincial areas such as Tagaytay.
The advantage of these types of condominiums (these types of condominiums are usually known as condominium complexes) are the luxury it provides as well as amenities which could cost a lot if installed in houses. Though townhouse complexes are also known for its amenities, condominium complexes are usually more affordable.
The advantage of most condominium complexes are its amenities. These amenities include resort facilities such as swimming pools, gyms, parks and playground equipment. Installing such amenities in houses or buying houses with the same amenities could cost millions of Pesos. Although townhouse complexes has the same amenities, condominium units are usually more affordable.
According to Real estate Philippines experts, such amenities are usually available in condominium complexes. However, some condominium buildings are also known for its amenities such as pools, gyms, and other popular functions.
In terms of affordability, apartments are usually more affordable. However, the advantage of condominiums are its ownership. According to Real estate Philippines experts, a condominium building and an apartment building are usually the same. The only difference are its form of ownership in which condominiums are usually sold to individual owners while apartment units are leased or rented to tenants.