Compared to buying a whole house, buying a condominium unit or renting an apartment unit is usually much more affordable. However, many have come to ask on what is the difference between a condominium unit from an apartment unit. So what are its differences?
Some of the most popular types of Philippines homes in the market today are apartments and condominiums. The reason behind its popularity among many Filipinos was its affordability. Compared to buying a whole house, buying a condominium unit or renting an apartment unit is usually much more affordable. However, many have come to ask on what is the difference between a condominium unit from an apartment unit. So what are its differences?
Condominiums
Condominiums have only been recently introduced compared to other types of Philippines homes such as townhouses and apartments. The reason why it grew very popular among Filipinos was its affordability as well as with its other benefits. According to many experts, condominiums are a great investment in terms of relaxation and in luxury.
Most condominiums available in the market today are those found in small footprints of a city and those outside of a major city, particularly in provincial areas. Condominiums inside cities are known for their advantage in accessibility. Being in a small footprint of a city, residents are allowed to be within walking or mass transit distance of business and industrial areas of the city, yet luxurious enough for its residents.
For those found in provincial areas, condominiums are known for their amenities. Many have found that these types of condominiums are much like townhouses found in large complexes. These are usually known as condominium complex. Condominium complexes are known for their high security, as well as resort facilities such as swimming pools, gyms, parks and playground equipment.
Apartments
Though one of the oldest types of residence, apartment buildings are still known as one of the most popular types of Philippines homes. What made it popular was its affordability, even with condominiums. The studio type apartments tend to be the smallest apartments with the cheapest rents in a given area. These kinds of apartment usually consist mainly of a large room which is the living, dining, and bedroom combined.
Another advantage is that, similar to condominium buildings, some apartment buildings are also known for their location which is near or inside a major city, such as those found in Makati City. Now what is the difference between an apartment building and a condominium building?
Difference of apartment building and condominium building
The difference between a condominium and an apartment is purely legal: there is no way to know a condo from an apartment simply by looking at or visiting the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold as individual units to different owners) could actually be built someplace else as an apartment building (the developers would retain ownership and rent individual units to different tenants).
Some of the most popular types of Philippines homes in the market today are apartments and condominiums. The reason behind its popularity among many Filipinos was its affordability. Compared to buying a whole house, buying a condominium unit or renting an apartment unit is usually much more affordable. However, many have come to ask on what is the difference between a condominium unit from an apartment unit. So what are its differences?
Condominiums
Condominiums have only been recently introduced compared to other types of Philippines homes such as townhouses and apartments. The reason why it grew very popular among Filipinos was its affordability as well as with its other benefits. According to many experts, condominiums are a great investment in terms of relaxation and in luxury.
Most condominiums available in the market today are those found in small footprints of a city and those outside of a major city, particularly in provincial areas. Condominiums inside cities are known for their advantage in accessibility. Being in a small footprint of a city, residents are allowed to be within walking or mass transit distance of business and industrial areas of the city, yet luxurious enough for its residents.
For those found in provincial areas, condominiums are known for their amenities. Many have found that these types of condominiums are much like townhouses found in large complexes. These are usually known as condominium complex. Condominium complexes are known for their high security, as well as resort facilities such as swimming pools, gyms, parks and playground equipment.
Apartments
Though one of the oldest types of residence, apartment buildings are still known as one of the most popular types of Philippines homes. What made it popular was its affordability, even with condominiums. The studio type apartments tend to be the smallest apartments with the cheapest rents in a given area. These kinds of apartment usually consist mainly of a large room which is the living, dining, and bedroom combined.
Another advantage is that, similar to condominium buildings, some apartment buildings are also known for their location which is near or inside a major city, such as those found in Makati City. Now what is the difference between an apartment building and a condominium building?
Difference of apartment building and condominium building
The difference between a condominium and an apartment is purely legal: there is no way to know a condo from an apartment simply by looking at or visiting the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold as individual units to different owners) could actually be built someplace else as an apartment building (the developers would retain ownership and rent individual units to different tenants).
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