Advantages Of Condominiums And Apartments In The Philippines

Published: 07th May 2010
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Condominiums and apartments are some of the most popular types of housing in the Philippines today. According to many philippine real estate experts, apartments have long been recognized in the Philippine market, while condominiums have only been recently introduced in the Philippines yet today is considered as the most sought after residence in the Philippines. So what are the advantages of owning a condominium or an apartment rather than any other type of housing in the Philippines?

Advantages of apartments and condominiums
One apparent reason for its popularity in the market is because of their affordability. Compared to buying a house or a townhouse, buying a condominium unit or renting an apartment unit is much more efficient, particularly with people with not enough capital to buy a whole house. However, other than its affordability, condominiums and apartments are also known for its other advantages. One is with its location.

Most condominiums available in the market today are those found within walking distance or within mass transit distance of major business districts and commercial areas. This makes it easier for residents to avoid rush hour, which is a typical problem in the Philippines. According to many philippine real estate experts, most apartments work the same way, particularly an apartment building. However, there are certain advantages of owning a condominium from an apartment, and an apartment from a condominium.

Advantage of apartments
The advantage of apartments over condominiums is its affordability. This is because apartments are usually rented rather than bought. This makes it easier for Filipinos to find residence without having to worry about investing too much or worrying that they don't have enough capital for it. This, however, could only go as far as giving them a temporary form of residence, not unlike what condominiums can provide.

This, however, could prove advantageous for certain types of people. One example is with the students. Students living from far away, such as in provinces, could find temporary living spaces, such as the studio type apartments which are usually small and cheap.

Advantage of condominiums
The main advantage of condominiums that for the fraction of the usual cost of a house or a townhouse, people could easily benefit from permanence in residence. However, even though its much more affordable than a house or a townhouse, it still cost more than renting from an apartment. Condominiums usually cost around P500,000 Philippine Pesos to P1,000,000 Philippine Pesos, which is still very expensive for most Filipinos.

Although it may still seem expensive, some have found it affordable, particularly if the condominium has amenities such as resort facilities like swimming pools, gyms, parks and playground equipment. According to many philippine real estate experts, for the fraction of a cost, Filipinos could easily enjoy such amenities.
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