Condominium in the Philippines
A condominium is a type of real estate property in the Philippines that features individual units for sale or for rent and common amenities like swimming pool and lobby. This can either be a low-rise, mid-rise, or high-rise condominium. Each unit space in a condo can be owned by different people and have specific condominium titles.
Condominium living in the Philippines offers an alternative lifestyle for many city dwellers because of its accessibility and convenience. Condo residents are offered various advantages, including access to everything you need, low-maintenance of properties, and proximity to your workplace.
This type of property is ideal for young professionals, independent urbanites, newlywed couples, and starter families. Homebuyers can choose to buy and live in a studio-type condo or one, two, to three-bedroom unit.
Condominiums are typically found in or near central business districts. The price of a condominium unit depends on several factors, including location, size, and floor area. Expect to pay more if you are purchasing a unit in prime locations in Metro Manila such as Makati and Taguig.
How to smartly buy a condominium unit in the Philippines:
- Make sure the real estate developer has certificate of Registration and License to Sell issued by the Housing and Land Use Regulatory Board (HLURB).
- Find out the rules and regulations, especially if you are moving in with a pet.
- Inquire about the association dues and other fees.
