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. 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.
There are several reasons as to why condominiums became a very popular type of commercial residential house in the Philippines. Some of which are its affordability, location, maintainability, security, and amenities.
Compared in the past in which condominiums were mostly for the wealthy, particularly because of its cost, most condominiums today became more affordable, allowing people from the middle class to own themselves a condo unit. The recent decrease of its cost was due to the fact that the market became more competitive with all the new condominiums, particularly in Metro Manila.
Because of its cost's significant decrease, condominiums became more affordable than a normal house, particularly with townhouses. Although its price have gone down, its luxury and way of living still remained the same, allowing Filipinos to enjoy a luxurious life for the fraction of the cost.
Another popular advantage of condominiums are its location. Most condominiums in the Philippines today are those found within or inside big cities, such as those found in Makati City and Ortigas. These types of condominiums allow its residents to be within close proximity with their work places or other popular commercial areas such as malls and shopping centers. This made it easier for them to get back to their work without having to go through the usual hassles of rush hour.
However, other than these locations, there are also condominiums found outside the city, such as those found in the outskirts such as in Novaliches and Taguig, or in provincial areas such as Tagaytay. Unlike the towering condominiums found in the city, these types of condominiums are usually similar with townhouse complexes.
Another reason why condominiums became popular is with its maintainability. Condominiums are usually known for their maintenance personnel that takes care in maintaining the livability of their condominiums. Its maintenance personnel assure that every facility found in the condominium is properly maintained from hallways, stairways, and elevators, to its cooling systems as well as parking areas. This makes it easier for residents to maintain their own units.
Another popular feature of condominiums is its security. May it be a big complex or a high-rise building, condominiums have long been known for its tight security. This is to assure that their residents are safe from any harm that can be caused by nature or other humans.
This is one of the most popular benefit of owning a condominium, its amenities. Most condominiums in the market today, particularly condominium complexes, are known to provide the same amenities which are found in townhouse complexes, such as swimming pools, gyms, recreational areas, and more.
Although condominiums found in the city, can't provide the same amenities such as those from condominium complexes, some of these condominiums may offer their own amenities, such as gyms and an in-door pool.
There are a number of new condominiums established...