Month: November 2017

According to many Filipinos, condominiums are some of the most popular and modern types of housing in the Philippines. Part of the reason is because many of its necessities and benefits are those which are in-demand in the market, particularly in today’s modern lifestyles. However, these necessities and benefits are divided into two different types of condo in Philippines.

Condominiums According to many real estate experts, A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas are owned by all the condominium owners.

Although condominiums were only recently introduced in the Philippine market, it steadily became popular among many Filipinos, particularly because of the first type of condominiums introduced in the Philippines, which are those found in the city.

City Condos At first, apartment buildings were known as one of the most popular types of housing in the Philippines, partly because of its affordability as well as with its accessibility to business and commercial districts. However, when condominiums were introduced in the Philippine market, the demand for apartment buildings fell because of condominium’s popularity among many Filipinos.

Because these types of housing can offer a much more permanent residence compared to renting an apartment, these types of condominiums steadily became one of the most popular types of housing in the Philippines. However, other than just its permanent address, these types of condo in Philippines are also known for its accessibility to business and commercial districts, giving Filipinos the advantage of living within walking distance to their workplaces as well as other popular entertainment areas.

Another major advantage of living in these types of condominiums is its maintainability and security. Because of its maintainability, residents can always feel the luxury of living in a high-class and modern housing, which is normally perfect for their lifestyle. Its security, on the other hand, allows their residents to feel safe. Most condo in Philippines are even known for its high security. This is because most of their residents are of high stature such as wealthy families as well as company executives.

The disadvantage of these types of housing, however, is that these normally lack the necessary facilities needed by a growing child, such as wide open spaces, playgrounds, recreational parks, and many others. This is the reason why a new type of condominium were founded in the Philippines known as condominium complexes.

Condominium Complexes Condominium complexes are similar to townhouse complexes, which are popular types of housing in other Asian countries, such as in Hong Kong. These types of condominiums are known to offer the peace and relaxation in which city condominiums lack, such as wide open spaces and recreational parks. Because of this, condominium complexes became a very popular type of modern housing for the modern Filipino family.

In addition to its recreational parks, many condominium complexes can even offer swimming pools, gyms, playgrounds, as well as full sized sports complex in which residents can freely and exclusively enjoy.

Off plan condominium purchase in Thailand means buying a condo in a planning stage or a condominium not yet fully constructed. The standard payment schedule found in an off-the-plan sale and purchase agreement of a condominium in Thailand is:

1. a reservation agreement with a reservation fee of 100,000 baht (approx 3300 USD)
2. a deposit of 10 to 20% of the purchase price on the execution of the condominium sale and purchase agreement
3. periodical installments during the construction of the condominium with a final installment of 1/12th to 1/20th of the purchase price upon transfer of ownership of the condominium.

Who to pay to?

Paying in escrow for a condo in Thailand means that payments are made to an Escrow Act licensed third party financial institution or bank that will hold the deposited monies till the conditions of the condominium sale and purchase agreement have been met, depending on the contract. The use of escrow services in Thailand for property purchases is not common!!

Generally developers in Thailand DO NOT offer escrow payment arrangements. Property developers in Thailand are under the Escrow Act or new Condominium Act and Condo Act regulations NOT required to offer escrow agreements to consumers. Property developers in Thailand are free to require deposits and installments in agreements without offering any protection for the purchaser payments. There is no legal protection structure in place for realty buyers. This part simply depends on the agreed and accepted contract terms and conditions between the seller and purchaser. If the buyer pays directly into the developer’s account this is an accepted risk he as the purchaser takes.

In 99% of the property development projects in Thailand the purchaser makes the payments directly to the developers bank account. Obviously payment made directly to the developer, as opposed to payments made in escrow, carries some serious financial risks for buyers in case of default by the developer. They risk loosing all. In addition, pre-paying the development, the buyer looses all leverage in case of delay or poor workmanship. At the time of completion the buyer has paid up to 95% of the purchase price and the developer is in a much stronger position and can simply refuse transfer of ownership to the buyer.

The developers company

The standard payment schedule by which the purchase price is paid directly to the developers bank account during the construction or even before the start of a condominium project carries risks of losing your payments in case of default or bankruptcy of the developer.

An important part of this arrangement is the developers company. Is it a large SET listed (Thailand stock exchange) real estate developer or a limited liability company with a low share capital and a poor track record? Limited liability for the developer means limited liability and in case of default there is for the buyers little chance of getting any of the payments back.

The Condominium Act supposed to protect the interests of the buyers of condos in Thailand but does not require the establishment of escrow arrangements in an off-plan condominium development.

Paying directly to the developer in Thailand is taking a risk.

What is the best type of housing in the Philippines today? According to many Philippine real estate experts, some of the best types of housings in the Philippines today, in terms of demand and popularity are houses and condominiums.

Houses have always been one of the most popular and in-demand types of housings in the Philippines, even though these types are considered as traditional, while condominiums have steadily risen in the market as a new comer, and is now considered as one of the most popular modern housing in the Philippines. So which of these types of housings are the best?

Popularity and Demand of Houses The reason why houses are still one of the most popular and in-demand in the Philippines is because of its affordability. Compared to condominiums, houses are far more affordable, which makes it more available for many Filipinos, particularly because not all Filipinos can afford to buy a condominium unit, or any other types of housings in the Philippines.

Many new types of these types of residential Philippine real estate are also known for its new benefits. According to many Filipinos, these new houses can be bought and paid in installment, which is more affordable and cost-efficient compared to renting an apartment.

However, other than its affordability, houses are also known for its other benefits. One is that these are perfect for a growing Filipino family compared to living in the heart of the busiest districts. The other reason is that these types of housings are the only types of housing which is appropriate as a retirement home or as an ancestral home.

However, the disadvantages of houses is its location, though near enough for its residents to access central business and commercial districts, residents would still go through the usual hassles of rush hour, which is unlike that of living in a modern type of housing such as a condominium.

Modern Benefits of Condominiums Condominiums are considered as one of the most popular modern housing in the Philippines. This is because of its many benefits that conform in today’s modern lifestyles. One of its most apparent advantages is its location.

Most condominiums in the Philippines are found in business and commercial districts. Because of its location, these types of housing can offer their residents the luxury of living within walking distance from their workplaces as well as other popular entertainment places.

However, other than those condominiums, many new condominiums are also found in the outskirts or even in the provinces. These new condominiums are known as condominium complexes, a type of condominium which aims to offer modernized housing for modern Filipinos.

The disadvantage of these types of residential Philippine real estate is its cost, which is very expensive compared to houses. In addition to its expensiveness is its month condo fees in which residents are obligated to pay.

If one were to ask a bunch of Chicago locals which is the ideal neighborhood or area for buying apartments in Chicago then you would get a bunch of different answers. There is nothing surprising about it because the answer to such a question is a matter of personal preference and hence it would differ from one person to another. Nevertheless, one cannot deny that the Windy City does have some very amazing condominiums and apartments for sale. Thus, you can take a look at some of the popular options to see which condominium for sale you should opt for.

Chicago, also known as the Windy City, is renowned for its food, music and sports team. One can witness a multitude of cultures here and the beauty is that they all blend seamlessly into the fabric of life. Based on what your interests and preferences are, you can start off your quest of looking for apartments in Chicago that are on sale. You can also go for a condominium for sale if condos are your cup of tea. One of the most populated neighborhoods in Chicago is the Wrigleyville – it has a very vibrant nightlife to offer to its residents. Thus, this area is perfect for party lovers.

Just in case you are not really into the whole idea of dancing the night away, but you are a big foodie then look for an apartment or condominium for sale in Lincoln Park or Lakeview. These neighborhoods offer great apartments in Chicago and there is also a host of great eats here offering a multitude of cuisines, from Chinese to Italian. For apartment hunters looking for urban high-rise neighborhoods, it would be ideal to go with downtown or The Loop. Living in downtown Chicago offers great perks, for instance, one can get direct access to sporting stadiums where the Bulls and the Bears play.

Apart from Wrigleyville, downtown Chicago is another preferred choice of people when it comes to getting a condominium for sale or an apartment. This area offers endless fun, entertainment and amusement with its stores, restaurants, museums and tourist spots. Another great area to look for ideal apartments in Chicago would have to be the northern side of the city or Gold Coast to be precise. Since the Gold Coast is situated on the lakefront, therefore one can gain access to art galleries. It goes without saying that this part of the city is great for art lovers.

Occupying its southern flank are places of interest like the University of Chicago, the Washington Park, the Chicago White Sox and many more is another area where one can look for a condominium for sale. The population in this part of the city mostly comprises of students and families. For families with children, it is important to look for apartments that are situated in an area with a lot of schools, so the southern side would be perfect in this case. The apartments in Chicago in the southern side are affordable, so your objective should be to strike a good deal.

Thus, mentioned above are some of the areas where you can hunt for apartments in Chicago. However, bear in mind that just the location and surrounding areas of interest are not good enough to help you decide whether or not you should purchase the condominium for sale in question. You need to also take into consideration the proximity of the apartment to major facilities like public transport and healthcare not to mention water and electricity. It is only after you have considered all these factors that you can go ahead and make your final decision.

Singapore condominiums are famous for providing luxurious living to the people. Everyday many of the condos are launched and people get attracted to invest in those condos because life in condominium adds on value to their living. If you are searching for best of the condominiums in Singapore for investing in it, then there are lots of options from where you can select. There are many options where you can invest in, like Yishun, Daisy Suites, Tanjong Pagar Center, and many others. This is for sure that the life in condominium is the quality and luxurious life and it adds on value to your living. Following are the reasons that make the condo life different and tell you why it adds on value to the living:

Wide variety in amenities
The first reason that will add on value to your living is the amenities that the condo unit offers. There is wide variety in the amenities that condo offers, some of them are swimming pool, tennis courts, and highly furnished interiors, wide space in the rooms, spacious parking facility, gym, and spa, among several others.

Location is luxurious
If we talk about the location, then let us tell you that location is the prime thing that makes the life in the condominium a luxurious living. Condos are located in locations, from where it is easy to connect with the other locations of city & easily commute to the city centers, shopping, restaurants, etc. The close proximity to the city center and to major routes, allows you to reduce & save time and travelling cost.

No worries for the maintenance
Life in Condo is tension free as you do not have to bother about maintenance task. Without such worries, you can live a relaxed and peaceful life. The condominium association takes care for the exterior maintenance such as gardening, cleaning of the house, repairing, daily needs, etc. so you do not have to invest your time in this. Otherwise, in the normal houses or apartments, where there is no association or management to handle maintenance task, you have to take care of all such concerns and sort the problem yourself.

Safe and secure living
Last but not the least, people, who have invested in the condominium feel more safe and secure. Be it presence of the neighbors, or the complete day security, life is more easy and secured. You can easily leave your apartment vacant when you have to go for vacations, or work trips. Some of the apartments apply additional security features when they get to know that you are not at home, which provides extra and additional protection to the owners.

There are many popular types of residential Philippine real estate across the country. And one of the most popular, according to many Filipinos, are condominiums. Condominiums were only recently introduced in the market compared to other types of housing, such as townhouses and apartment buildings, yet it became one of the most popular and modern types of housing in the country.

According to many real estate experts, the reason why condominiums became a very popular type of housing in the Philippines is because of its benefits which conform in today’s modern and fast-paced lifestyles. One example is its location.

Benefits of its location Most of these types of residential Philippine real estate are found in business and commercial areas. Its necessity in terms of accessibility to these locations allowed it to became in-demand by many Filipinos. This is because residents are given the luxury of living within walking distance to their workplaces, allowing them to avoid the hassles of rush hour.

Although found in the busiest districts of the country, condominiums are still known to offer the kind of peace and privacy in which residents deserve in their homes. However, in addition to its location, condominiums are also known for other benefits, including its maintainability as well as with its security.

Luxurious necessities Other than its location, condominiums are also known for its other luxurious necessities, including its maintainability as well as security. Condominiums are known to hire their own maintenance personnel who oversee the maintenance of all facilities found in the condominium, such as hallways, lobbies, elevators, garage, cooling systems, and other recreational facilities found in the compound.

Their security personnel, on the other hand, assure the safety of their residents. This is because most of its residents are of high-stature, such as company executives as well as other wealthy Filipinos living in these types of residential Philippine real estate.

New condominiums However, other than the condominiums found in business and commercial districts, a number of new condominiums were introduced in the Philippine market which is said to offer modern necessities for the modern Filipino family. This is with the new condominium complexes.

Family-oriented environment Compared to condominiums in the city, condominium complexes are mostly built for the family. This is because condominium complexes are mostly found in the outskirts or in the provinces, which is far from the city.

Because of its environment, which is normally secluded along with wide open spaces, many Filipino families found these types of housing suitable for their growing family. In addition to its environment, condominium complexes are also known for its amenities

Amenities Part of what made condominium complexes popular and modern is because of its amenities. Similar to townhouse complexes, a very popular type of housing in most Asian countries, condominium complexes are also known for its similar amenities including swimming pools, gyms, recreational parks and playgrounds. Because of this, condominium complexes became more suitable for many modern Filipinos, particularly for their growing children.For more information visit to our site at http://www.atayala.com

Condominiums are some of the most popular types of housings in Philippine market due to its benefits which conform in today’s modern trends. So what are the benefits or advantages of living in a condominium unit?

Different Types of Condominiums There are currently two types of condominiums in the Philippines, the typical condominiums mostly found in the city, such as the many Metro manila condominiums, and condominiums found in the outskirts or even in the provinces, which are known as condominium complexes.

Location The main factor which made most condominiums in the city popular is because of its location. Most of these types of housings are strategically found in business and commercial district, such as those found in Makati City and many other major cities in Metro Manila.

Because of its location, residents can enjoy the luxury of living within walking distance or mass transit distance from their workplaces, allowing them to avoid the usual hassles of rush hour. Its location is also within reach of popular entertainment places such as malls and -hang-out- places.

Condominium complexes, on the other hand, are found far from these places. Most condominium complexes are found in the outskirts, while some are even found in the provinces. These types of condominiums aim to provide a more family-oriented environment for Filipino families compared to Metro manila condominiums.

Because of its location, condominium complexes can offer a more peaceful and quieter environment compared to that of the city. Condominium complexes can also offer the wide open space that growing children require for playing. However, what made condominium complexes more popular is with its amenities.

Amenities Other than its family-oriented location and environment, condominium complexes are also known for its amenities such as its own swimming pools, gyms, recreational parks, playgrounds, as well as a full-size sports complex complete with basketball, volleyball, tennis, and badminton courts. Because of this, condominium complexes became one of the best types of modern housing for modern Filipino families.

However, other than condominium complexes, a number of condominiums in the city are also known to offer their own amenities. Some of the oldest Metro manila condominiums offer gyms as their amenities. Today, many new condominiums in the city can now offer their own indoor swimming pools and sports complexes for the enjoyment of their residents.

Condominiums became a very popular type of housing in the Philippines due to the many benefits that these types of housings can offer to their residents. So what are the kinds of benefits or advantages does a condominium can offer that made these types of housings popular in today’s modern and fast-paced lifestyles?

Benefits of Condominiums for Modern Filipinos Condominiums first became popular because of its location, which are mostly found in business and commercial districts, such as the many makati condo. Other than its luxurious location, condominiums became popular its location is within walking distance from popular workplaces as well as popular entertainment places such as malls and shopping centers.

Because of this, residents found it easier to access their workplaces from their homes, allowing them to avoid the usual hassles of rush hour. This is one of the main reasons why the number of condominiums in the city, such as the many makati condo, kept growing in the market.

However, other than its location, condominiums are also known for its other luxuries. One of its most popular and unique benefit is its collection of amenities which made houses more popular among many modern Filipinos.

Luxurious Amenities of Condominiums Other than condominiums, there are also a number of popular types of housings in the Philippines that can offer the same accessibility that condominiums can offer. However, the reason why condominiums became popular is not only because of its location, but also because of its amenities.

Some of the older condominiums in the Philippines are known to provide gyms as their amenities. However, many new condominiums in the city, such as the many makati condo, are also known to offer amenities such as indoor swimming pools as well as a full-size sports complex complete with basketball, volleyball, tennis, and badminton courts.

Because of these amenities, condominiums became a very popular type of housings among many modern Filipinos, particularly for those that works almost around the clock in which these amenities can help them unwind even in the middle of the busiest districts in the Philippines.

Condominium Complexes Condominium complexes are types of condominiums which are found not in the city, but mostly in the outskirts or even in the provinces. Compared to condominiums in the city, condominium complexes aim to offer modern Filipinos more relaxing environment compared to that in the city and even in residential districts. And part of what made these types of condominiums popular is that these are considered today as some of the best types of housings to raise a family.