Then and now, many individuals, couples, and families go for high-rise condominiums for the ultimate premium experience of living in the city. In fact, despite the COVID-19 outbreak in 2020, there came a higher demand for high-end projects in the Philippines.
According to the Bangko Sentral ng Pilipinas’ Residential Real Estate Price Index (RREPI), this market rise resulted in residential real estate prices increasing by 27.1%, the highest since 2016. The same survey also revealed that one of the highest contributors to this growth rate was loans for condominium purchases in Metro Manila.
High-rise condos offer a lot of perks that make for a more relaxed and upscale living. Apart from its incredible views and amenities, it also comes with added security and easy access to the city’s essential facilities and must-see places.
If you’ve been thinking of moving forward with a new home, read on and let this infographic convince you why high-rise living might be right for you.
What is a High-Rise Condominium?
A high-rise condo in the Philippines is typically a 10+ story building with four to eight units per floor. However, this classification varies per country. For instance, a high-rise starts at four stories in India, while the US recognizes a building as one when it hits at least seven floors in height.
This residential kind compares with the other options available in the market: mid-rise and low-rise buildings. In terms of structure, mid-rise premises are usually four to six floors tall, while low-rise buildings often only have one to three stories.
As for the features that come along with the property, a high-rise condo prides itself on its secured access, lavish lobbies, and high-tech elevators. Generally, a condo association administers the building’s maintenance and operations funded by the dues collected from the condo owners.
The Advantages of Living in a High-Rise Condo
Now that you know the specifications of high-rise condominiums that make them stand out from the other types of residential properties, it’s time to dive deep into the benefits of living in one. Below are some of the perks you can expect when you make the high-rise condo switch.
- Impressive views
What they say is true: the higher the place, the better the scenery. So, whether you’re located in the heart of the busy business district or a landscape of greenies, living in a tall building guarantees a spectacular view every single day.If you’re looking to take in all of the city’s beauty, a high-rise condo can show you your entire surroundings without requiring you to leave the unit. It also has a whole weather system in your line of sight, letting you spot storms brewing from afar during the monsoon season and enjoy colored skies on clear days.
And of course, high-rise living promises the best sunrises and sunsets from its wide-angle view, giving you the perfect start and end to your busy workday. - Variety of upscale amenities
Another selling benefit most high-rise condominiums have is the world of amenities it extends to its residents. While these properties are already at the center of the metro with easy access to almost everything and anything, it still gives you the convenient option of not leaving the premises to do certain activities. A few facilities and services you can enjoy while living the high-rise life include:- Fresh, open spaces
- Swimming pools
- Fitness and wellness centers
- Playrooms and entertainment lounges
- Libraries and function rooms
- Innovative and practical technology
- Security and safety
Especially during this pandemic, where people are holed up indoors, these amenities make the perfect alternative setting to get work done. For instance, the building’s library or business center can be your next favorite spot for remote work or learning.
To break the monotony of staying inside, you can stroll in MITSUKOSHI, the first Japanese shopping mall designed to elevate and bring the Japanese retail experience in the country—soon to open its doors at the podium of The Seasons Residences.
Security and safety services exclusive to high-rise properties provide an added layer of comfort as well. Typically, high-rise premises operate with an advanced heating, ventilation, and air conditioning (HVAC) damper system to regulate the airflow rate throughout the building.
Seismic dampers are also in place to absorb vibrations, allowing the structure to move elastically and dissipate the energy of an earthquake. - Prime location
Generally, high-rise condos are in prime real estate locations. Whether it be in the downtown area near high-end shopping malls and restaurants or in the business district where the daily hustle and bustle unfolds, upscale high-rise residences are at the center of it all.
With its proximity to the best the city has to offer, it will only take you as short as a 10-minute walk or a quick drive from the condominium to enjoy a premium dining experience. So, in case you’re in the mood for a world-class steak and wine combo or an Asian fusion feast, your appetite is sure to be satisfied.
High-rise properties also have convenient access to upscale entertainment options. With just a short walk from the building, you can attend sought-after sporting events, high production theatre shows, and top-tier concerts by in-demand artists in the scene.
Aside from being surrounded by the hotspots in the metro, high-rise condo sites are close to major highways. This allows more convenient travel from one city to another, making it the perfect point for easier work or leisure trips.
In prime areas like Bonifacio Global City, infrastructure projects like the BGC-Ortigas Center link and BGC-Makati Skytrain aim to improve accessibility in and around the area. - Round-the-clock security
Living in a high-rise condominium shouldn’t just be about experiencing the pretty perks that come with it. Above all, security should be of utmost importance when moving into a new space. Unlike regular housing, high-rise buildings provide a 24/7 security system with multiple CCTVs and motion sensors installed on all floors. Furthermore, designated door persons are on duty all day and night to monitor people entering and leaving the premises, ultimately eliminating the chances of trespassing and burglary in the building.
These protection measures by high-rise condo management are vital, as they play a significant role in providing its occupants peace of mind while they go on with their daily activities—one you can’t put a price on. - Easier maintenance
Although considered by many as a life milestone, owning a house doesn’t come without problems. Luckily, you can skip the major household headaches when you live in a high-rise condominium. Since most high-end properties have sterling management operating the high-rise, there’s no need to worry about keeping the yard neat or repairing the air conditioner when it breaks down. A well-structured sunken slab (a below-floor drainage system) and a high-end air distribution system are also essentials integrated into these properties, which you can skip stressing about planning and getting.
Usually, these installations, maintenance, and repairs are included in the utility costs issued per billing season, so you won’t have to find the right materials and people to upkeep your home. - Flexible payment options
Much like mid-rise and low-rise condos, high-rise properties also offer different payment models to interested residents. The most common in the industry include cash term, bank financing term, and in-house financing term. Considered the easiest and fastest way to homeownership, cash term is paying cash upfront within 30-60 days. This one-time, big-time payment comes with advantages such as discounts, fewer requirements, and smoother processing of real estate documents.
Meanwhile, the bank financing term is where a bank grants a borrower (the homebuyer) a loan or mortgage to be paid over an agreed period. For a comprehensive payment solution, the in-house financing term makes the perfect choice with a fixed interest rate offered by the developer that is usually payable in five to ten years. - Great investment
In 2021, real estate is regarded as the best form of investment in the Philippines. With this, residential high-rise condominiums hold excellent resale value as more people aspire to experience the grand city living. Should you decide to own a unit today and then sell or rent it out down the road, the numerous benefits of high-rise condos can ultimately work to your advantage. Its state-of-the-art amenities and ideal location in the city make it more attractive and valuable to buyers and tenants alike.
With the growing demand for upscale real estate in the market, this warrants you top dollar when sold or leased. - Perfect for the affluent lifestyle
The most coveted properties in the market are the ones that offer maximum convenience and comfort.
The long list of perks above proves that high-rise condominiums make an excellent choice for people looking for a new place that best suits their lavish lifestyle. There is so much to explore and indulge in high-rise living, from the high-end amenities inside to the variety of exclusive must-tries around it.
And as to those searching for the next big addition to their books, without a doubt, high-rise condos are an ideal acquisition that is sure to benefit you both in the short and long run.Start Living the High-Rise Life
Relocating is never easy, especially when it’s an on-demand city. Before you make a move, there are several factors to consider, such as your needs, preferences, lifestyle, and of course, budget. After all, real estate is not just a small purchase.
If this article swayed you to check out premium high-rise condos in the Philippines, you might want to learn about a new upscale development located at the heart of Bonifacio Global City (BGC).
The Seasons Residences is the country’s first resident project inspired by the four seasons of Japan. Found in the Grand Central Park community, this high-rise structure combines Japanese design, technology, and innovation in its architecture with the Filipino sense of community to create the “next Manila lifestyle.”
To know more about The Seasons Residences and its Japanese-inspired, high-rise condominium units, visit their website and contact the team today!