A Further Look At Condominiums
Some of the most popular types of residential Philippines property today are condominiums
. Although it has only been recently introduced in the market, condominiums quickly grew very popular across the country, particular in Metro Manila in which towering condominiums are found. However, although condominiums have been a very popular type of residential real estate in the Philippines, there are still several things that Filipinos doesn't know about condominiums.What is a condominium?
Condominiums are a type of multi-unit dwelling in which each floor of a condominium building is comprised of several units which are individually owned. There have also been a lot of questions regarding the difference between a condominium and an apartment, in that apartments can also be classified as a multi-unit dwelling. Condominiums and apartments are usually similar in appearance, particularly with condominium buildings. The difference between condominiums and apartments is the ownership.
Condominium units are usually individually owned and the common areas, such as hallways and recreational facilities, are jointly owned by all the unit owners in the building. Apartments, on the other hand, are normally rented or leased to tenants in which the whole building is still owned by one or more entity, which is known as the landlord. However, the same building developed as a condominium could actually be built someplace else as an apartment building.
The good about condominiums
There are several reasons as to why condominiums became a very popular type of residential Philippines property. Some of which are its affordability, location, maintainability, security, and amenities.
Although condominiums are still pricey for some, its cost have significantly dropped compared in the past in which condominiums have only been recently introduced. Compared to buying a house, condominiums are usually more affordable, which allows Filipinos to find a suitable space for residence. Another is its location in which most of these are found inside or near major business districts.
These types of residential Philippines property is also known for its maintainability and security. Condominiums are also known for its amenities such as swimming pools, gyms, and recreational areas which adds to its luxurious living experience. However, these types of amenities are usually found in condominium complexes, a new type of condominiums in the Philippine market.
Condominium complexes
Condominium complexes are a type of condominium which is similar to townhouse complexes. Unlike the towering condominiums found in the city, these types of condominiums are usually found in the outskirts or in provincial areas. These types of condominiums also have wide spaces which includes one or two of those amenities.
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by: Deirdre Gonzales