Thursday, March 31, 2011
Tuesday, March 29, 2011
Difference of Two Popular Modern Housings in the Philippines
Which is the best, condominiums or apartment buildings? Both types of housings are considered as some of the most popular types of housings in the Philippines, particularly because of its modern benefits for modern Filipinos such as its accessibility to business and commercial districts.
However, both types of modern housings are known for its own uniqueness, benefits, advantages, and even disadvantages. So what are the reasons why residential Philippine real estate such as condominiums and apartment buildings became popular in the Philippines?
Apartment Buildings
These types of housings have always been popular, particularly in past in which its main competitor were townhouses, and compared to townhouses, apartment units are far more affordable. However, when condominiums were established in the Philippine market, the popularity of apartment buildings had dramatically dropped.
Today, however, apartment buildings had started to return in the market with a number of new benefits. One of its most popular benefits is its new types of apartment units known as the one/two/three bedroom apartments. Compared to studio type apartments, these apartments are far more spacious, allowing a family of 3 or 4 to live comfortably while living within walking distance or mass transit distance from their workplaces.
The disadvantage of apartment buildings still remains, which is the fact that the ownership remains with its land lord which makes residents prone to eviction, though this rarely happens. Another is that these new apartment units are usually more expensive compared to studio type apartments.
Condominiums
Condominiums first became popular in the Philippines due to its location, which is mostly found in the heart of some of the busiest districts in the Philippines, such as in Makati City and in other business districts in the Philippines.
Other than its location, condominiums also became popular because of their amenities. According to Philippine real estate experts, condominiums are the only types of housings in these locations that can offer amenities such as an indoor swimming pool, gym, as well as a full-size sports complex. This made it more luxurious compared to apartment buildings and townhouses, which is why many of the wealthiest families in the Philippines started to live in these types of housings.
The disadvantage, however, is that most of these types of Philippine real estate are expensive compared to apartment buildings, which is why most Filipinos that can’t afford to live in a condominium decided to rent in an apartment unit.
However, there are a number of new condominiums available in the market that allowed many Filipinos to own their own condominium without having to invest thousands of Pesos. This is because most of these new condominiums can now be bought and paid in installment. Though its down-payment is still expensive, many Filipinos had chosen to live in these condominiums rather than to rent an apartment unit.
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