Condominium is a type of housing in which ownership of a single unit or a house belongs to an individual or a group of people while the rest of the condominium is jointly owned by all the owners. This particular type of ownership or housing tenure had gained a lot of popularity in the Philippines, in which many of today?s modern Filipino lives in a condominium unit. So what are the reasons why condominiums are so popular in the Philippine market?
Popularity of Condominiums in the Philippines
Other than the fact that that these types of housings are far more affordable compared to townhouses, while offering a more permanent home compared to apartment units, condo in Philippines also became popular in the Philippines because of its location, in which these types of housings are normally found in business and commercial districts.
The Advantage of its Location
Most condo in Philippine today are found in business and commercial districts, such as those found in Makati City as well as in other popular business districts around Metro Manila. Because of this, residents are given the luxury of living within walking distance from their workplaces, allowing them to easily and conveniently access their offices while avoiding the usual hassles of morning rush hour.
Other than in offices, condominiums are also within reach of popular entertainment places avenues such as malls, shopping centers, bars, and many others. These are the reasons why most Filipinos living in a condominium unit are wealthy families or individuals, company executives, as well as high-wage earners.
However, condominiums are the only types of housings found in these locations. There are also other popular types of modern housings found in business and commercial districts such as apartment buildings and townhouses. But other than its location, condominiums also became popular because of its other benefits, such as its collection of amenities.
It?s Collection of Amenities
According to many real estate experts, condominiums are the only types of residential Philippines properties for sale found in business and commercial districts that can offer facilities such as swimming pools, gyms, and even a full-size sports complex.
Because of these amenities, many Filipinos found these types of housings appropriate for their needs, particularly when it comes to relieving their stresses from work.
However, there are a number of new benefits that many new condominiums are known to offer in the market that made it even more popular and in-demand in the Philippines. This is because of its new terms of payment.
New Payment Terms
Many new condominiums in the Philippines today can offer a new payment term in which these new condominium units can now be owned and paid in installment. Because of this, condominiums became even more popular compared to apartment units in terms of cost-efficiency. For more information visit to our site at http://www.avidaland.com
Source: http://realestatesunshinecoast.info/2011/09/being-trendy-of-condominiums-in-the-philippines/
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