Why Purchase a Condominium Unit in the Philippines

In fast-growing cities in Asia, such as Metro Manila, the capital of the Philippines, housing and traffic are two of the most pressing issues of the moment. As business and productivity begin to grow at exponential rates and enlarge the economy, people tend to flock to the cities in increasing numbers in search of jobs and opportunity. This, in turn, drives up demand for housing and increases the volume of traffic on the road. This is particularly true especially in central business districts (CBDs) such as Ortigas Center.

Because of these circumstances, it is no surprise that many high-rise condominiums are popping up all around CBDs. Though Filipinos still place a premium on owning their own house and lot, many have increasingly taken to purchasing condominium units as well, especially those in the heart of Metro Manila. These are usually either used for occupancy by the buyers themselves, or are kept as investments and then rented out to tenants.

Here are some of the reasons for you to purchase a condominium unit in Metro Manila today:

Closer proximity to workplaces

With traffic in the metro being consistently ranked as one of the worst in the world, living in a condominium is becoming an increasingly popular option among the young workforce. This is especially true given that most condo developments are located in CBDs, thus drastically cutting the time it takes for them to commute and saving them great amounts of time and effort.

Security and maintenance services

Unlike a house and lot, which you would typically have to take care of yourself, a condominium comes with building maintenance and security services. Building maintenance services help you keep your plumbing and sewage systems working, as well as allow you to enjoy a well-kept residence.

Security services, on the other hand, decrease the risk of your home being broken into. This is aside from the fact that if your unit is located on the upper floors, it would be difficult for anyone to reach. Round the clock security can also help keep you safe and ensure that no one suspicious can enter the property.

All your lifestyle needs satisfied

Because condominium developments are usually located in the heart of the city, they are not only in close proximity to workplaces, but also to other amenities as well. For those who have children, this can include schools and kindergartens. Other nearby lifestyle and entertainment centers include supermarkets, restaurants, and shopping malls.

At the same time, the condominium itself comes with a good number of facilities and amenities. These can include a swimming pool and a fitness center, which tenants can use at no extra cost. While these would be impractical additions if you were to live in a house, living in a condominium allows you to treat yourself to these as often as you want.

Affordability

Compared to a house and lot, which can easily sell in the tens of millions of pesos, a condo unit is much more affordable. This includes the added bonus of having your condo unit right in the heart of the city, whereas it is usually only house and lots in the provinces that still remain financially accessible to many. This allows you to have an asset to your name without sacrificing an arm and a leg.

References:

https://www.imoney.ph/articles/condo-vs-landed-property/

https://www.zipmatch.com/blog/buying-a-condo-philippines/