Condominium properties are very popular nowadays. No on can argue about that. In Metro Manila alone, you’ll notice condominium projects grow in number like mushrooms growing after a rain. They are just unstoppable. But have you ever wondered why people continue to buy a condo aside from the fact that even a single studio-type condo already costs about 2 million pesos. And with the availability of the typically cheaper and bigger house and lots, the question of why people continue to buy these expensive, often small in size property becomes just very significant. Then why do people invest on a condo anyway? Well, the reason goes beyond the price or the size of the property your are buying.
Time and size. Most of the time when you choose a property to buy, specifically your new home, the first deciding factor is the size. Is the property big enough for me or not? Today’s condominium buyers have a different criteria in mind, and that is time. Most condominium buyers are busy professionals who value time more than anything else. And that is more time for work, for leisure and most importantly, for their family.
With the development of master-planned communities, living in a condominium has never been more enjoyable. While earlier villages promises a quiet and serene environment, communities of the new generation is quite different. Live, work and play is a common tagline for today’s new developments. This means bigger amenities, more socially engaging activities and more business opportunities.
Condominium is not just a property where you can use as a shelter, it is also an excellent investment tool. Condominiums, being usually at the heart of the city, have a higher opportunity of giving you a passive income. And yes, I’m talking about renting it out. If this is the reason that you are looking for, then “Are You Ready For Your Next Passive Income?” should be a good read.
There are a lot of other reasons why people invest on a condo. Some savvy investors prefer condominiums instead of stocks and other investment vehicles. A condo property is tangible and something you can physically and practically enjoy.