Condominiums

There are many types of commercial residential housing in the Philippines and one of the most popular types of commercial residential houses today are condominiums. Compared to other types of commercial residential houses such as apartments and townhouses, condominiums have only been introduced recently in the Philippine market. However, condominiums are now considered as one of the most sought after type of commercial housing in the Philippines both by wealthy and middle class. So what is a condominium? And what are the things that made it popular in the Philippines?

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.

Affordability

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.

Location

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