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Which is the best type residential Philippine real estate today in the market, is it apartments or condominiums? Before condominiums were introduced in the market, apartment buildings have already established itself as one of the most popular modern housings in the Philippines. However, condominiums had recently gained a lot of popularity due to the fact that it can offer more modern benefits compared to apartment buildings. What made Condominiums more Popular According to many Philippine real estate experts, other than its location, which allows its residents to easily access their workplaces, condominiums are also known for its other popular benefits. And one of those is its collection of amenities. Condominiums are the only types of modern housings found in the center of business and commercial districts that offers amenities such as indoor swimming pools, sports complexes, and gyms. Because of this, condominiums quickly became popular in the Philippines which made condominiums a very popular type of housing in the Philippines. However, there are a number of new apartment buildings in the market which recently became popular among many Filipinos. And these types of apartments can usually offer a living space appropriate for a family. Rise of Apartment Buildings One advantage that made apartment buildings compete in the market is because apartments are usually leased to tenants, who made it more affordable, compared to condominium units. However, what made apartments even more popular in the Philippines is because of its new units which now offers the chance for residents to live comfortably with their family. This is because of the one/two/three bedroom apartment units which offers more space compared to studio type apartments. Because of this, apartment buildings had started to rise up in the market today which proved to be a serious competition for condominiums. According to many Philippine real estate experts, this is because other than offering their residents the affordability they needed; residents can also enjoy living in a family-oriented home. New Condominiums in the Market To compete in the market that apartments have completely dominated, many new condominiums in the market today can now be owned and paid in installment. Because of this, condominiums became even more cost-efficient compared to renting in an apartment unit. This is because condominium resident already owns their unit while the ownership of apartment still remains with its land lord.
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