Difference Between Buying an Apartment and Renting a Condominium in Philippines

The Philippine real estate market has become more competitive than ever. In some ways, this has made it easier to purchase or rent a new home, thanks to the large supply as big developers invest heavily in new townships, condominium units, and housing complexes that are sprouting everywhere in the metro and its surrounding areas. With the many options available, condominiums and apartments have become popular with both renters and homeowners.

So, which one should you choose? When it comes to location, condo units often have the advantage as many condominium complexes are conveniently situated close to commercial centers, business districts, and arterial roads that make them more accessible for city living. Some apartments, on the other hand, are also situated away from busy thoroughfares and commercial establishments, which is well worth considering if you value peace and quiet.

In terms of space, many apartments will generally offer more in terms of square footage as well as parking and yard space. Condominiums offer floor space at a premium. Condo owners also share common spaces with each other, and parking is sold separately.

Maintenance and upkeep are a cinch with condominiums as buildings often have their own maintenance personnel on hand to make repairs and fixes easily. Most condominium units are often well maintained and are held to more stringent regulations and inspections from relevant agencies for safety and occupancy. Apartments offer more flexible repair and renovation options as you normally do not share the space with others, giving you more freedom in terms of alterations and improvements.

Perhaps the most compelling argument for these property types for many is the cost. Apartments may tend to be pricier in general, with condo units often offered at competitive prices to attract potential buyers. For those who have limited budgets, this is often the deciding factor for making the choice between a condominium and an apartment. 

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