A cursory trip to Metro Manila will reveal a curious phenomenon: the frenetic, unstoppable construction of high-rise residences. From mid-rise to towering structures, helmed by novice developers or established real estate players, they are transforming not only the urban fabric and the skyline but also the way people live, how they interact with each other, and their relationship with the city and its myriad opportunities.
“Metro Manila is a prime mega-city that is ripe and ready for high-rise developments,” says Emma Amores, Corporate Communications Head “With over 15 million people calling the metropolis home, it’s inevitable that there will be scarcity of land on which to build. The fact that that it has the country’s most expensive real estate in square meters makes building and buying a home more challenging.”
No wonder that more and more people are embracing condo living. The 21st century will be marked with condominium projects, just like how subdivisions and villages defined the late 20th century. Though there will still be a segment of the home-buying market that will prefer horizontal developments, signs are pointing toward more and more people preferring to live vertically. Here are some of their compelling reasons:
Condos are relatively affordable. In comparison with building a house from scratch (and buying the lot prior), investing on a condo comes out cheaper and more sensible. You also don’t have to deal with a contractor, an architect and interior designer (not to mention an electrician and a plumber) as the developer takes care of all of them for you. This is why a large segment of condo dwellers are young professionals and startup families since they can readily accommodate the cost within their budget. With bank loans and in-house financing, buying a condo is a lot easier than before.
Their value appreciates fast. A condo’s value could double in six years, especially if the unit owner has bought the property during the pre-selling stage. “The condo’s value is also commensurate to the track record of the developer,” adds Amores. “The projects by reputable developers, such as Vista Residences, are more attractive to investors and end users because they know that the condominium will be built on time, adhere to the most stringent construction standards and feature the promised amenities.”
They are chockfull of amenities. It’s a given that a decent high-rise project should have a grand lobby, high-speed elevators and a swimming pool. In the developments of Vista Residences, amenities are tailor-fitted to suit the residents. Aside from the amenities mentioned above, Mosaic and KL Mosaic Towers in Makati City have a coffee shop to take on the full view of the nearby parks, Wil Tower Mall has a day care center, while Vista Residences Taft and Katipunan have study rooms. “We are aware of the specific needs of our residents and address them in every way we can,” says Amores.
They provide round-the-clock security. Security in every Vista Residence development is a priority. As such, state-of-the-art CCTV cameras are installed in crucial areas to monitor movement and traffic. A security force also deals with the entry and exit of guests. These features, among other things, translate to the peace of mind of the residents.
They are easy to maintain. Compact and well laid-out, a condo is easier to maintain than a house with its rooms, nooks and corners. It also limits the kind of furniture and things you let into your unit. Hence, potential clutter is minimized. Time saved from cleaning and running a household can be devoted on more worthwhile pursuits such as family bonding.
They are close to leisure opportunities and places of employment. Location is a top priority for Vista Residences that’s why most its projects are sited in some of the most active, vibrant parts of the city. It has developments at Bonifacio Global City in Taguig (Avant at the Fort), Makati City (Mosaic and KL Mosaic Towers, Salcedo Square, Trevi Towers) and Ortigas Center (The Currency). Government and private offices, multinational headquarters, leisure and dining centers congregate on these places, offering myriad opportunities for employment and the good life.
They offer the view of the city. Nothing can beat the exhilaration one feels in looking at the city set against a blue sky from a high-rise residence. If you’re lucky, you might even have a view of mountain ranges, a lake or a piece of the sea. The city takes on a more mesmerizing view at night when the glittering lights reveal their beautiful patterns. Indeed, condo living has its perks that a modern man or woman can identify with.