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July 04, 2010

Types Of Condominium Projects And Their Pros And Cons – PART 2

This is the continuation of my previous post on the pros and cons of the types of condominium projects. I have already presented what a high rise project can offer and the scenarios that should make us keen  on  what measures  are implemented on our desired project to lessen the risks that these scenarios bring.

Mid-rise Projects – It is considered a mid-rise project if the building consists of 4 - 8 levels or floors. Many people prefer this because it is less dense since it has lesser units per level than in high rise condos and it allows more breathing space, natural light and privacy. The risk involved during emergencies like fire and earthquake is not as much, as compared to high-rise condos. Another advantage is that you have more claims on the land since mid rise projects are generally built on larger land areas. Mid-rise projects also offer more parking spaces and most of the time the ratio of drying cages to a unit is 1:1. (A drying cage is a separate 5-9sqm. room that is located on the rooftop dedicated for washing and drying clothes.)  

Although mid-rise projects seems to be a better choice than high -rise projects, there are still some disadvantages that you must weigh. These projects generally require larger land areas to be built upon and because of that; most mid-rise projects are located a bit farther away from major business centers and commercial areas as compared to the high-rise projects. That means you will experience a little bit of hassle caused by traffic and access to public transportation may not be that easy as well. Property taxes are much higher too because of its bigger land area. Some mid-rise projects do not have elevators and therefore is a challenge to move heavy furniture in and out of your unit.

Hyrid Projects - As the name implies, is a combination of high-rise and mid-rise buildings in one project. The best example would be DMCI’s Rosewood Pointe and Royal Palm Residences in Taguig City. Each is composed of 2 high-rise towers with 19-21 floors and 8 mid-rise buildings with 5 floors. Hybrids are mostly located on the outskirts of the central business areas because like mid-rise projects, it requires larger land areas. The view from the higher floors for the high-rise towers in hybrid projects are often more scenic than the ones located in the heart of the city and there is abundant air flow because there are only few high buildings or oftentimes there is none adjacent to it. Other than that, hybrid projects generally offer the pros and cons of both the high-rise and mid-rise projects.

Now you have a good insight on what each type of project offers and I hope I made you a better real estate investor.

Live a beautiful life!

Ryan Rillorta

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1 comment:

  1. The types of condo projects and their work is given here. Read to know more


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