If real estate analysts can pinpoint one of the most popular trends in the Philippines, it is condo living. The growing popularity of high-rise apartments can be seen in the various skyscrapers cropping up all over the metro. Where once investing in actual homes was the preferred mode of living, future generations are moving toward more compact residential options.
This is also probably an offshoot of the current improvements in condo living. Gone are the “shoebox” spaces, replaced by luxurious rooms with ample space. Prime real estate developers, like Megaworld at The Fort, have become more innovative in coming up with current projects. Condo living has emerged as the new lifestyle to aspire to for individuals and families alike. Are you considering if getting a condo is right for you? Here are a few benefits to think about:
1. Convenient Location
Owing to their growing popularity, most condos occupy prime spaces within the real estate landscape. C-5 Pasig-Ortigas area, for example, is considered one of the country’s central districts for business and commerce. Passing through the area, it’s not hard to spot various residential buildings cropping up all over the district. If you do choose to invest in a condo, it’ll be right at the center of the city. You’ll have easy access to a wide range of establishments, literally within walking distance of your new place.
2. High Class Amenities
Think of the advantages of having a gym, pool, and coffee shop-in-one. That’s exactly what condo living offers. Most developers are beefing up their market presence and increasing desirability by providing luxurious amenities. The current trend of condos is to provide all the things that make up a complete lifestyle. From fitness to entertainment, there are a lot of possibilities for condo dwellers to explore. Installing the same facilities in a stand-alone home would entail a lot more cost, in terms of actual conception and maintenance.
3. Disaster Proofing
Given the frequency of natural hazards we experience, it’s only practical to invest in a place that offers protective options. Most, if not all, high-rise condominiums have anti-earthquake structures that afford more security in the event of such a disaster. These types of construction also offer ample protection against flooding, another common countrywide issue. Living in a house or subdivision leaves you more open to these types of problems. Safeguarding your residence can entail additional expenses and strain on your existing budget.
4. Added Security
You can always live in a gated community with the benefit of round-the-clock surveillance. Security is an important factor, especially in certain areas. Families, especially, desire the assurance that their loved ones are kept from harm at all times. In answer to this pressing need, most condo dwellings are outfitted with the latest security and surveillance measures. Guards at the lobby, video cameras set up at strategic locations, and TV-coms in each unit are only some of the provisions that developers offer. As the need for safety becomes more and more evolved, so do the means to meet it.
5. Investment Opportunity
Well-furnished condos located within urban centers can also become lucrative assets. The yield associated with leasing a high-rise apartment is quite substantial and can be used to augment existing income. Furthermore, the market for rental, especially expats and OFWs looking for temporary lodging has grown significantly over the past years. As the country’s economic climate continues to prosper, analysts see this sector gaining momentum in exponential growth.
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RV VALLENTE
INTERNATIONAL PROPERTY SPECIALIST
Real Estate Officer and Consultant
The Empire East Elite
Luxury Residential Resorts and Properties Group
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