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Learning More About Condominiums in the Philippines

Real Estate Articles November 16, 2015

Condominiums are considered today as some of the best types of modern housings in the Philippines. Although widely spread all over the country, there are still a number of things that many Filipinos still doesn’t know about condominiums, such as the agreement of its type of ownership and other important information about condominiums.

What is a Condominium?
Condominiums are any type of housing, may it be an apartment or a house, in which an individual or group of people owns a unit or a house while other facilities found in the condominium are jointly owned. Other than just a name of a type of housing, condominium is also a type of housing tenure, or a type of ownership.

According to Philippine real estate experts, condominiums and apartment buildings are similar with each other in terms of physical form. Like apartment buildings, condominiums are mostly found in business and commercial districts. And like apartment buildings, condominiums are also made up of a high-rising building. The difference, however, is with its housing tenure or ownership in which apartment units are normally rented while condominiums are owned individually.

Condo Fees
Another difference of condominiums from any other types of housings in the Philippines is the condo fees. These fees are separate from the monthly bills that residents have to pay, in which they fees are used internally. According to Filipinos, these condo fees are used for the maintenance of their condominium, as well as wages for its maintenance and security personnel.

Although considered as a disadvantage, particularly because most condo fees are expensive, these are necessary to maintain the integrity of their condominium, such as its cleanliness, as well as its security.

What made condominiums stand out in the market, compared to other similar types of modern housings in the Philippines, is its collection of amenities. Compared to apartment buildings and townhouses, condominiums are the only types of modern housings that offer amenities to their residents.

Most condominiums are known to offer their residents with amenities that they can freely and exclusively enjoy. Many Philippine real estate experts have said that most of the older condominiums offer gyms as their amenities, while some of the new condominiums are known to offer amenities such as an indoor swimming pool as well as a full-size sports complex.

Another reason why condominiums became popular is because of its diversity. Similar to townhouses, condominiums are not only found in business and commercial districts, there are also a number of condominiums found in the outskirts or even in the provinces.

These types of residential Philippine real estate are known as condominium complexes and these types of condominiums normally aims to offer housing for modern Filipino families because of its family-oriented environment as well as facilities that accommodates the needs of a growing child such as recreational parks and playgrounds.For more information visit to our site at http://www.avidaland.com

Samuel Caballero is a business entrepreneur from Davao City Philippines.He’s now based in California and writes in his spare time for various articles including avidaland.com

First Gen, Lopez Group rebuilding more schools

Real Estate News November 9, 2015

First Gen, Lopez Group rebuilding more schools
Rockwell Land is acknowledged as the country's foremost developer of luxurious real estate projects. First Balfour is the Lopez Group company … FPH subsidiary First Philippine Industrial Park Inc., owner of the premiere 457-hectare industrial estate …
Read more on The Standard (press release)

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