There are several types of condominiums in the Philippines today. In the past condominiums were one of the rarest types of housing in the Philippines, and the rich are the only ones who can afford to buy a condominium. Today, however, condominiums have become one of the most popular types of housing in Peru, covering practically most of Manila.
Condominium is a type of apartment, where residents own the units and the rest of the building or compound, such as hallways, elevators and recreational areas owned by all owners of condominiums. The difference between condos and apartments are the property where the apartments are usually rented to tenants.
Condo is a modified form of owner occupation, type of tenure that reflects the body in general the properties of a typical house and land it sits on. Even if residents own their condominium units, their rights can only go so far to live in their units, but without modifying their units can be set for homeowner associations, as in the case of many of the condo in Makati and even if the unit owner does not own the rest of the building.
Different types of condominiums in the Philippines
Due to the popularity of condominiums in the Philippines, the number has increased rapidly in the market, introducing new types of housing for Filipinos. Condominiums popular ones located within major cities such as Makati’s apartment number.
But other than the apartment Makati has many new condos now been found in the suburbs or even in areas of the province. These new types of condominiums known as condominium complexes.
Condominium complexes are a kind of condominium complex that is similar to the Townhouse. It is usually spread on land; they typically involve a series of small buildings, condominiums overlooking the city. Although the condominium complex in places too far away from jobs for residents, these types are known for other benefits, such as facilities such as swimming pools, gyms, spas and theme parks.
Unlike the condominium complexes with the complex of houses, however, is its cost. Although both are known for providing the equipment even condo complexes are generally more affordable than houses. Other condominium complexes has none of these facilities (not to mention an amusement park), but are more affordable than other condo complexes.