What Is A Condo? Pros & Cons For Homebuyers

Interested buyers are reminded that all property is being offered for sale on an “As-is, Where-is” basis, and are advised to conduct their own due diligence.” The development is located close to many business hubs and office buildings that can provide a generous pool of tenants to investors who purchase The Continuum for the purpose of generating rental income. Paya Lebar Quarters, Paya Lebar Square, Singpost Centre, Tampines Biz-Hub, Ubi Biz-Hub and Oxley Biz-Hub are just some commercial sites that are within a few kilometers from the development.


Contract of SaleThe developer or seller will prepare the Deed of Sale, which is a legally binding document that lists the terms and conditions of the purchase. Borrowing from friends/familyIf you have the option, borrowing from friends or family members may also be a viable financing option for buying a condo property in the Philippines. There are various banks and financial institutions that offer mortgage loans with different interest rates, payment terms, and eligibility requirements. This includes assessing your financial capacity, taking into account your income, expenses, and your current financial commitments. As a major economic hub in Mindanao, Davao City boasts a thriving condo market, attracting investors and residents looking for a balance between urban conveniences and natural beauty. This proximity to urban centers enhances convenience and offers a dynamic lifestyle.

For Sale Fully Furnished 1BR Deluxe Condo Unit in Mandaluyong

The majority of condo costs go toward the upkeep of the property, which includes common areas, outside buildings, and some inside structures and appliances. Fees vary depending on what they serve, some can be rather costly. Condominium owners may be charged a specific fee to offset the costs of major repairs. In simple terms a condominium is one of a group of housing units where each homeowner owns their individual unit space, and all the dwellings share ownership of areas of common use.

  • The project features modern units with high-quality finishes and access to amenities such as a fitness center, swimming pool and sky garden.
  • Having a huge land size, Leedon Height offers extensive landscape within the development.
  • Until such time as these committees are established, it will not be possible for developers to register land as condominium land under the Condo Law – and there will be no eligible condominiums in which investors are permitted to invest.
  • Condominiums in Uganda are regulated by a number of laws including general laws on land, taxation, ordinances of the area where the condominium maybe located but specifically by the Condominium Property Act of 2001 and Condominium Property Regulations of 2002.

The attorneys at Jimerson Birr proactively manage a wide range of matters for our company and their no-nonsense, laser-focused approach sets them apart from many other firms we’ve encountered in the past. They are quick to direct us towards our goals and help us prevent risk. When in need of quality legal counsel, this law firm gets the job done quickly and gets it done right. My highest recommendation goes to the experienced attorneys at Jimerson Birr. When my company began courting distribution agreements during recent expansion, we were referred to Jimerson Birr to strategize. What I found in this firm is a combined skillset of legal expertise and business acumen that is truly one-of-a-kind.

What are the legal considerations for buying a condo in the Philippines?

Next to Seda Hotel and Abreeza Mall Unit comes with independent living, kitchen and utility rooms. Fully furnished unit with Smart LED TV with Netflix, power savings inverter refrigerator, inverter washing machine and dryer. Comes with adapter free USB phone charging ports and touch only lights switches. Such transfer or conveyance shall be deemed to be full liquidation of the interest of such members or stockholders in the corporation. Owners thereof, no condominium unit therein shall be conveyed or transferred to persons other than Filipino citizens or corporation at least 60% of the capital stock of which belong to Filipino citizens, except in cases of hereditary succession.

  • They are not only an affordable option but also come with many amenities and provisions.
  • They must also ensure that the quality of the construction materials and workmanship meet industry standards to provide a safe and durable living environment for future unit owners.
  • Unless otherwise provided for in the declaration of the restrictions, the management body shall have power to bid at foreclosure sale.
  • This document is usually signed before the actual transfer of ownership takes place and serves as proof of intent to sell and buy the property.