A condominium refers to a building containing a number of individually owned housing units or apartments. Since the use of condominiums originated in Utah in 1960, their use has significantly increased over the past years. What then is an executive condominium? Well, then an Executive condominium is a strata-titled apartment with facilities comparable to private condominiums. With the steady increase in the use of the Executive condominium over the years, people fear and know the possibility of a further price decline is very low. It is, however, important to note that the executive condos are very popular in Singapore and Philippines. The Rivercove Residences ec has some of the best housing units. Features of an executive condominium include:
Comfort and luxurious
Executive condos are parked with comfort, luxury and security which make them suitable to those that have busy lives. Presence of fitness rooms, swimming pools, country clubs, sky lounges and golf clubs make them more luxurious. The great social amenities offered by the executive condos makes them have an upper hand when compared to other residential places like the houses. Also, the lazy individuals are saved the effort tending lawns and gardens and repairing fixtures in a house which of course come with a price.
Accessibility and proximity
The executive is mostly accessible to cities which make it simple to access social amenities and services like healthcare, banking services, malls, entertainment areas, commercial establishments and access to education facilities. All that promotes a trouble-free and hassle-free living. This is a clear and good reason why the acquisition of executive condos is the latest trend in home owning.
Quick reselling features
The executive condo’s amenities, building features, lesser cost and proximity to adequate social amenities give it faster-selling chances than houses in case the owner decides to sell it.Most of the executive condos are just minutes away to prime city hubs which make them have the edge over the houses. This explains the importance of executive condominiums locations.
Limited choices by location
As earlier said, executive condominiums are located in areas with close proximity to city centres.Since executive condominiums are the best, the choice of selecting the best over an area is however very limited.
Presence of additional benefits
Owners who purchase the Executive condos for the first time are normally given housing benefits in form of grants through the application. Second timers buying new Executive condos are normally exempted from paying any resale levy.The benefits may differ depending on the Executive condominium. Another important feature of Executive condos is that their values increase after a period of time.