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Why Condominiums Became Even More Popular Compared to Other Modern Housings

Condominiums are some of the most popular types of modern housings in the Philippines. This is because of its many modern benefits that conform to the needs of many Filipinos in today’s modern lifestyles. However, other than condominiums, there are also other modern types of residential Philippines properties for sale that can offer the kind of benefit that made condominiums modern.

Other Modern Types of Housings What made condominiums modern is because of its location, which is mostly in business and commercial districts such as Makati City. However, other than condominiums, there are also other types of residential Philippines properties for sale found in the same location such as apartment buildings and townhouses.

Both apartment buildings and townhouses have long been in the Philippine market before condominiums were introduced. So what are the reasons why condominiums became even more popular compared to renting an apartment unit or buying a townhouse unit?

Compared to Apartment Buildings Apartments are some of the most flexible types of housings in the Philippines. These can be found in many places around the Philippines, from provinces to the outskirts, to residential districts and business and commercial districts. One of the most popular types of apartment is apartment buildings.

Apartment buildings became popular in the Philippines is because of its location, which are found in business districts, while maintaining its affordability which is because apartments are normally rented.

What made condominiums more popular compared to apartment buildings is not only because of its location but also because of its amenities. Condominiums, according to many real estate experts, are the only types of residential Philippines properties for sale in business and commercial districts that can offer amenities such as swimming pools, gyms, and a full-size sports complex for their residents.

Though much more expensive compared to apartments, many wealthy Filipinos chose to live in a condominium because of its permanence in residence, while maintaining its affordability compared to townhouses. Another advantage is that many condominiums today can now be bought and paid in installment, making it more cost-efficient compared to renting in an apartment unit.

Compared to Townhouses In comparison to townhouses, condominiums are far more affordable. Another advantage of condominiums from townhouses is that condominiums are found in the heart of business and commercial districts, while townhouses are found around these business districts.

Though much more family-oriented compared to condominiums, condominiums excels in providing Filipinos with a relaxing home in the heart of busy district while allowing them to enjoy a few activities with its collection of amenities.

Buying A Leasehold Condominium In Thailand

Foreigners may under the Condominium Act own up to 49% of the units (in floor space) in a condominium complex in Thailand. The remaining 51% of the units must be owned by Thai nationals.

In the Thailand resort areas such as Phuket and Pattaya condo developments and sales are primarily aimed at foreigners. The 49% freehold units in a condo project are the first units to sell, but the remaining 51% units in the Thai side of the condominium are tough to sell. There is no interest from Thai nationals in these tourist resort condos and the remaining condo are often sold under a leasehold to foreigners. In the end part of the condominium will be owned freehold and leasehold by foreigners.

Buying a leasehold condo in Thailand

Whether you buy a condo leasehold or freehold the purchase price remains the same and foreigners often buy leasehold condominiums in Thailand because the leasehold contracts suggest more rights for the leasehold purchaser than is guaranteed and possible under Thai law. Foreigners often do not understand the concept of lease in Thailand.

What is leasehold in Thailand

What a foreigner pays for when he is buys a leasehold condominium is actually rental for up to 30 years. The leasehold contract is and must be read as a rental contract and is governed by the section hire of property in the Civil and Commercial Code. The foreign leasehold purchaser of a condo enters into a tenant-landlord or hirer- lessor relationship, often with the developer of the condominium as the landlord.

As a rental contract the foreigner must consider the following under Thai law:

Voting rights in the condominium juristic person associated with ownership remain with the owner of the unit and not with the leasehold purchaser. If a large part of the condominium is sold under lease contracts the developer of the condo will have a large part of the voting right and control in matters like condo management. Considering that most condos are managed by the developer’s management company common complaints relate to high maintenance and management fees. The selling of leasehold condos disturbs the democratic voting right system in a condominium.

Selling a leasehold condo down the road

As leasehold is a rental, and by law the leasehold purchaser does not have any rights or authority to sell or assign the leased condo. The buyer of a leasehold condo is a tenant and only has the exclusive right of possession of the condo for the term in the lease agreement. The only person with the right to sell the condo is the registered owner and assignment of the lease can only be done by the landlord/owner.

Sub-rent of the condo
A leasehold owner is only allowed to sub-rent the condo if this is agreed in the condominium lease contract. Otherwise the law stipulate that sub-rent is not allowed.

Inheritance of a condo in Thailand

Even though the Thailand Condominium Act in section 19 does not automatically qualify the heirs of a freehold owner for registration of ownership, freehold owners can pass on a condominium by inheritance to another foreigner.

A leasehold of a condominium is a rental and based on Supreme Court ruling this type of contract is terminated upon death of the tenant/ lessee party of the agreement. The lessee or tenant is an essential element of the agreement and under contract law this type of contract is terminated upon death of the lessee. The remaining term of the lease agreement will not pass on to the heirs of the condo. The lease agreement could include a succession clause however this does not offer any guarantee that the remaining lease term is also registered by the owner in the names of the heirs.

Transfer of ownership of the condominium does not break rent under Thai law, death of the lessee does!

Renewal options in the contract

Most foreigners who buy a leasehold condo are mislead by the term of the lease contract created by renewal options. Under present Thai law the renewal option is nothing more than a promise to renew the lease upon expiration of the first registered term after 30 year. Such a promise to renew has only effect between the parties to the contract. Should the lessee die or should the owner die or transfer ownership this contract option is lost. As confirmed by Supreme Court rulings a renewal option has no effect against third parties and do not transfer by law to any transferee owner.

Right to transfer to freehold

Like the renewal option this is a contract right between the parties only. It could be impossible or difficult to enforce. It is not a guaranteed right or option.

Term of the condominium lease contract

Any lease agreement in Thailand cannot exceed 30 years. Any longer term will be reduced to 30 years. The 30 year lease is not a fixed asset, it is a rental contract. As a contract it can be terminated prior to the expiration of the 30 year term, for example breach of contract by the tenant lessee or death of the lessee.

Taxes

As opposed to freehold condos rental or leasehold condos are subject to a rental tax of 12.5% over the actual yearly lease price or annual assessed lease price. This is often passed on in the lease contract to the leasehold buyer.

Before entering into a leasehold purchase of a condominium foreigners should consider the rights associated with lease in Thailand. Some matters can be anticipated if properly included in the contract, some rights included in the contract are not guaranteed and the relation with the owner remains a tenant/ landlord relationship.

Buying A Makati Condominium

Nowadays, people are choosing to rent or buy Makati condominiums versus buying or renting a house & lot in nearby cities.

This can be attributed to the fact that most people prefer to live in residential spaces requiring less maintenance, and they favor the proximity of Makati to key establishments in business such as work, popular lifestyle spots, schools and medical facilities. Add to this the ease of transportations routes and quick accessibility to most cities in the Metro.

Pricing is a concern with everyone whos ever bought a property in Makati. However a lot of developers have managed to meet the expectations of everyone from the different sectors of society from the young couple starting a family, a working student whose only got enough to pay for his or her rental/amortization, or an ofw who worked hard for years on end and is about to make his very first real estate investment. Theres a variety of Makati condominiums on the market catering to the purchasing power of the Filipino people. Not only that, banks have made it easier for the simple Juan to make a loan without selling his soul to the devil to make his down payment & monthly amortization.

Material wise, one has to be discriminating with the materials, design and finish as said on the brochure or contract given to you by the developer. Unfortunately, there are still some Makati condominiums who promise this and produce that whatever happened to following through with your claims. That is the reason when you are buying a Makati condominium, you must settle with a reliable developer who wont run out on you when the first signs of problem in your property strikes.

Now whether you make buy your Makati condominium for investment or residential purposes is up to you. Mind you, rental per square meter in Makati is pretty high as compared to other cities in the Metro. If you aim to sell it after a few years, you might also be surprised at the market value of your property as Makati land values have risen a thousand-fold over the past 50 years.

Bamboo Shades As Virtual Nature

Beautiful bamboo shades exist in so many countless styles. There are basic styles, those using woven matchstick pieces, including the least popular whites. Then, there are larger woven sticks in woven woods. Many of these more diverse styles include braided pieces, bamboo that still resembles bamboo, and even sticks of varying sizes. In addition to these, bamboo shades can also use grassweave styles, sometimes intermixed into the other styles, and often times, as a single pattern. It is these grassweaves upon which we will focus in this article on bamboo shades.

The common reasons why people choose bamboo shades it to get the rustic and natural style that is so easy to attain with these. Grassweaves actually take this to a new level. When using a woven section of real wood, there is a bit of an air of technology left in the product. However, bamboo shades which use basic grass sections, are the epitome of rustic, and truly achieve this goal.

Some consumers may take issue with the grassweave bamboo shades, some with good cause, and others are irrational. The rational fears include the light transparency of these bamboo shades. The grassweave is among the most translucent. This is actually a real benefit for many consumers. Others want to have this element of light that enters the room blocked, and for those, it is recommended to line the bamboo shades. Another fear is that the materials can harbor mold, mildew, or other bad elements. While this is true, and those who may have allergies or other ailments may wish to avoid these bamboo shades, it is probably advisable for these consumers to find altogether different window treatments, anyway. The smell, by the way, of bamboo shades, is usually the natural smell of the wood, and while pollen may not be an issue for bamboo shades, there are those who are bothered by this natural odor, which does wear off after a short while.

What actually is the styling of the grassweave woven shades? These unique designs harken back to the days when people may have lived in grass huts. Some have said that these shades re reminiscent of the natural shades that may be handmade, hanging int he windows in Fiji. This is the look that people seek out when they design their retreat rooms, their spa baths, and their themed bedrooms. At the same time, these bamboo shades can also be a real contrast against the modern styles that are increasingly appearing in homes and offices these days. This industrial look may be fine, but for those who wish to soften the design, the natural designs of bamboo shades using grassweave fabrics may be just the solution.

After crossing the threshold and going into this type of bamboo shades, consider the wide range of colors and styles one can have. The styles are strips of grass woven together, and yet, there is a tremendous range of colors and designs which one can have when selecting. Due to the natural issues with these materials, it is usually best to try to pick a color palette, either browns or greens or tans, and then try to go with a darkness. Often, there is not much more than a selection of dark or light. Sometimes there are many other choices available. However, the problem with color matching is heavy on bamboo shades, and one should bear in mind that the colors will never match the samples, and that the colors of the final shades, once installed, will look quite different from what is expected. Thus, choose to go with a range of colors, and a hue, and you will be quite pleased with your bamboo shades.

Grassweave bamboo shades can be quite lovely and bring the true essence into your home as a simple, easy to manage window shade. The materials are diverse, and long lasting, and if properly maintained, clean with a light dusting, they can give years of beautiful design to your windows. Consider using lined bamboo shades to provide real privacy and room darkening. By the way, the lining also helps to show your guests the real beauty of the shades, by blocking the bright light that often obscures the patterns, and also can give a white to the street color, often needed for condominiums and homeowner associations. Choose these bamboo shades for the soft and natural designs.

Drawbacks Of Buying A Condominium Over A House

Which is the best? Buying a house or a condo unit? Buying houses is one of the main goals of starting a Filipino family. But other than houses, condominiums have become a rather popular Philippines properties for sale nowadays. This is mainly because unlike buying a house (which could cost millions), buying a condo unit is far more convenient as well as cheaper for Filipino families that are just starting out. But there are several disadvantages of buying a condo unit Philippines properties for sale compared to actually buying a house.

Drawbacks of Buying a Condominium Over a House

Condos or condominiums became popular Philippines properties for sale mainly because of its affordability compared to buying a whole house (although some condo units are far more expensive that buying a house). Newly weds could easily start their own family in a condominium practically because of its advantages including its maintainability as well as amenities that one could not otherwise afford, such as swimming pools or tennis courts, to community centers with with exercise rooms and much more. However, there are some details about owning a condominium that makes it inferior to owning their own house. These include:

* Monthly Fees
o Aside from electric and water bills, condominiums, especially those with homeowner’s association, would usually require every tenant to pay a monthly fee. This monthly fee is commonly used for the maintenance of the whole condominium as well as wages for security personnel.
* Restrictions
o Most condominiums across the Philippines, as well as those overseas, are usually governed by several rules, codes and restrictions. Though most of these rules are reasonable, some can be defined as very restrictive. This usually includes setting a minimum number of tenants living in one condo unit, age limit, pet restrictions, remodeling of the unit, as well as parking restrictions.
* Less Privacy
o Communal living is not always desirable for some people and the noise level generated by living in close proximity to others can influence some buyers to simply look elsewhere. Usually, the biggest concern is about parking for the owners and for their guests. However, many condominiums are being designed with their own garages and have common parking areas available for guests.
* Unsuitable for bigger families
o Condo units are more suitable for use of small families, usually involving 3 tenants, the couple and their child. But bigger families, such as having more than just the couple as well as more than one offspring, wouldn’t be suitable for a condo unit. This is because condominiums are usually smaller (although there are bigger condominiums) compared to houses, making it unsuitable for growing children as well as for extended families.