November 7, 2022

Important Facts Before Buying a Condominium Philippines


Condo living in the Philippines is one of the options available to those looking to purchase a home. It is one of the most popular options due to the benefits of ownership such as 24/7 security and luxury amenities. Most buyers are looking for condos with amenities that will allow them to stay physically active during the pandemic.

Apart from the benefits of condo living, there are some essential prospective condominium buyers should be aware of. Here’s a guide that covers the most important aspects of purchasing a condo in the Philippines.

What exactly are condominiums?

Condominiums are a type of multi-unit property. These units are divided and sold separately. Condos, as opposed to single-family homes, are for partial ownership. Some condominiums can be privately owned, whereas others, particularly the common areas, are owned collectively by all condo owners.

Things to think about when buying a condo unit

A condo purchase is a good investment, but several factors must be considered before making a downpayment or signing the Deed of Sale. Here are the five most important factors to consider when purchasing a condominium:

Consider your requirements.

Before purchasing a condominium, determine whether the condominium will meet your needs for space or unit size, privacy, convenience, comfort, security, and safety. A condo unit tour with a real estate agent can help you assess if your desired condo unit matches your needs.

Look for reasonable offers.

Developers offer various lucrative packages, but you should keep an eye out for their association fees and amenities. Check on each amenity, how to get it, and whether it is worth the price you will be paying.

Where is the condo located?

The location is also important when selecting a condominium. A well-located condo unit ensures easy access to amenities such as hospitals, restaurants, schools, and banks.

A unit’s potential price appreciation is also determined by its location. The higher the price appreciation of the unit if it is located in a growing region or commercial area.

Assess the Association Dues and Fees.

Another factor to consider when purchasing a condominium is the association dues and fees, which include:

  • Membership dues
  • Fees for membership
  • Your unit’s real estate tax
  • Property taxes on the land on which your condo is built
  • Real estate tax on condo community common areas
  • Parking charges on condo buildings

Aside from that, it is essential to determine whether there is a penalty fee for late payments, the RPT or Real Property Tax for both the unit and the shared areas, and the land on which the condominium is built.

Assess the Restriction

Another thing to look into is the condominium’s restrictions, such as those concerning pets, unit expansion or interior design, visitors, and parties.

Financing Option when buying a condo

When financing a condominium unit in the Philippines real estate market, you have three options: bank loans or financing, in-house financing, and Pag-IBIG Housing Loan.

Most banks now provide financing options for condominiums; however, the rate and interest rate may differ from one bank to the next, whereas the Pag-IBIG Housing Loan is up to P6,000,000 or 80% of the total accumulated value (TAV).

Banks provide low-interest rates with fixed rates for 1 to 5 years. Pag-IBIG Housing Loan, on the other hand, has fixed interest rates for up to 30 years.

Lastly, in-house financing in the Philippines depends on the developer’s interest rates.

Condo buyers benefit from owning condo units


Affordable market value in comparison to a house and lot.

Condominiums outside the business districts of Bonifacio Global City, Taguig, and Makati City are less expensive than houses and lots in Metro Manila.

Houses and lots are more expensive than condominiums because they take up more space. In Metro Manila, the average price of a house and lot for sale is around Php 25,412,601, or Php 105,940 per square meter. Makati is the most expensive, with homes and lots costing around Php 155,360,000 or Php 275,422 per square meter, while Caloocan has the most affordable, with houses and lots costing around Php 3,775,242 or Php 54,813 per square meter.

The average price of a condominium for sale in Metro Manila, on the other hand, is Php 4,200,000, or Php 113,000 per square meter. Makati has the most expensive houses and lots for sale, with an average price of Php 160,400 per square meter. It is followed by Taguig, which costs approximately Php 136,000 per square meter, and Pasay, which costs approximately Php 109,300 per square meter.

The average price of a house in Metro Manila is roughly six times that of a condominium. This is also one of the reasons why middle-income families and first-time home buyers prefer to buy a low-end or mid-range condominium.

The location of the condominium property is convenient.

Working professionals are the type of people who prefer to buy or own a condominium because it eliminates the hassle of daily traffic.

Staying in a condominium, especially if it is located in or near business districts, gives you the advantage of living near commercial establishments such as malls, grocery, supermarkets, restaurants, convenience stores, laundry shops, and transportation hubs, which are sometimes located on the ground floor of the condominium or just a few steps away.


Swimming pools, sports facilities such as basketball, tennis, and badminton courts, gyms, lounge areas, function halls, and playgrounds are common amenities in condominiums that provide their residents with a healthy and relaxing lifestyle.

Another advantage of purchasing a condo is having a receptionist who checks and verifies each condo visitor and assists condo residents in emergency situations or accepting deliveries when they are not at home.

Safety and Security

Aside from the receptionist who checks or calls the unit owner to confirm their guests, condominiums have 24-hour security and CCTV cameras installed in the building.

The building’s hallways are also equipped with fire sprinklers, smoke detectors, and fire distinguishers.

Minimal Upkeep

Condominiums require less maintenance because the unit owner is only responsible for what is inside her unit, while the condo’s administration or developer is responsible for everything else.


The disadvantage of Condominium Unit

Condominium Fees

A condo owner’s monthly fees or association dues typically range from Php1500 to Php25000, depending on the size of the unit, location, and property developer. The most common condo fees are:

  • Condo Association dues
  • Membership dues
  • Property tax on your unit
  • Real estate tax on the land where your condo is built
  • Real estate tax share on common areas
  • Parking fees

When condo owners fail to pay their association fees on time, they face a penalty. Late payments are usually charged 4% interest per month.

Aside from the monthly dues and fees, condo owners must also pay their RPT or Real Property Tax for their unit, as well as the shared areas and land on which the condominium is built, either quarterly or yearly.

Strict Regulations and Limited Space

In the Philippines, the average condominium is as small as 18 square meters for a studio type or less than 50 square meters in floor area. Unlike a bungalow, where you can always redecorate, rearrange, or create a new space, a condominium, particularly a studio-type unit, has less space to design and minimal furniture and appliances to fit and rearrange.

Aside from the limited space, some condominiums have strict regulations regarding the interior of the units because each unit was built with its own specifications and limitations. Extension plans are also not permitted because they may jeopardize the structural integrity of the building. Condo owners should obtain permission from the condominium’s property management office for any repairs or alterations.

Living in a condo is also subject to condo or house rules, such as restrictions on guests, pets, and parties.

Condo dwellers do not have their own outdoor space because these facilities or common areas are shared with other residents.

Lack of Privacy

Other households live above, below, and on the sides of the unit you own if you live in a condo. You may occasionally hear people shouting, babies crying, or furniture moving from your neighbors. At the same time, you must be cautious in your movements and speech because they can hear noises coming from your unit.

If you’re looking for a condo in the Philippines, browse thru hundreds of property listings at AllProperties. Find your ideal place to live with our extensive selection of condominiums and apartments in Metro Manila, Cebu, Davao, and other key cities in the Philippines!

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