Contrary to public opinion, there are more than just two types of condo unit types in the Philippines. Knowing these types will definitely help you make the right decisions and avoid costly mistakes when you make an investment in a condo soon.CONDO CLASSIFICATION
Property seekers are only familiar with two types of condo units: studio and bedroom units. But did you know that condo units in the Philippines comes in three main classifications, and then segmented by five different types?
By classification:
1. MASS MARKET
Image caption: SM Development Corp.’s Green Residences offers 15.65 sq.m as its smallest cut in the 3,378-unit development in Manila, targeting students in schools around the Vito Cruz area.
Mass market condos are condominiums made for property seekers who are looking for an affordable condo. Usually developed at the outskirts or in developing areas, they are perfect properties for the budget-conscious investors.
Unit density in mass market condos are usually dense (meaning more than usual number of condo units per floor) usually to monopolize building space. Majority of the condo types offered here are studio to one-bedroom units. Some mass market condos come with the most basic amenities such as a swimming pool, car park, elevator, and 24-hour security, or none at all.
2. MID-MARKET
Image caption: M Place at South Triangle is another mid-market condo in Metro Manila, targeting yuppies looking for a home in the most busiest section of Quezon City.
Mid-market condos fare slightly better than mass market condos. They are usually built in or near prime locations such as central business districts or townships. They’re more spacious than mass market condos, and offer more amenities than the usual, like a sauna room, function area, jogging path, and gym.
Some developments offer from studio up to two-bedroom units, enough for young professionals to starter couples who are looking to live near the city’s fringe.
3. HIGH-END
Image caption: The Venice Luxury Residences offers direct access to the commercial area below, and the Venice Grand Canal, the first man-made canal in the Philippines.
High-end condos are the top-of-the-notch residential properties in the market. Usually located right at the heart of prime locations, they are priced as high as a hundred million pesos, but may go up depending on the developer, quality of the fixtures and furnishings used, among other things.
Amenities that comes with ownership of a high-end condo are quite exclusive, a signature or a one-of-a-kind in the city. They could range from sky pools, private lifts, helipads, butler service, direct access to shopping malls, and a lot more. Some properties come with a card-carrying membership that would allow owners to get exclusives on services and discounts.
CONDO TYPE
Condo types are defined by the unit layout. There are five identifiable condo unit types in the Philippines, which are the following:
1. STUDIO
A studio unit is described as a condo unit with an open floor layout. Except for the bathroom, the living room, kitchen, and bedroom are both integrated. They are recommended for single dwellers or couples who do not require that much living space. It can get cramped for more than two people.
2. Bedroom units
Bedroom rooms are the most preferred condo types, simply because it has a partition for a bedroom. Bedroom condo units can go up from one to four-bedroom or four-bedroom with a maid’s room. This condo type is ideal for starter to growing families, or owners who require more more private living spaces in an urban setting.
The next three types can be more expensive or can be combined with the first two condo types:
3. LOFT
Loft-type condo units come with high ceilings and windows, a very open living area, and an elevated bedroom. Although lofts do not provide a full partition with regard to the bedroom area, it can be private enough for a condo dweller who wish to live in an open-floor plan setting.
However, loft-type units can be difficult to clean and can be a safety concern for families with kids and elderly. It can also be tricky to cool the unit, especially in the summer.
4. BI-LEVEL
Bi-level condo units are quite different from loft types, as they have a similar layout to a two-storey house, but they are built within a residential building. Just like a two-storey house, a bi-level unit do not feature an open second level that overlooks the living area that a loft type offers.
5. PENTHOUSE
Perhaps the most expensive of the bunch, penthouse units are located on the topmost floor of a residential building or skyscraper. They also come with a larger floor area, bedroom units, and exclusive amenities that may not be available to the other residents. The living space offered by penthouse units allow buyers to customize the layout, as they do not have neighboring units to take into consideration.
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