The Demand for Luxury Condominiums

With the staggering real estate prices in Europe, more and more people are turning to luxury condominiums as an alternative. Typically smaller and less expensive than a single family home, this is great for first-time home buyers and older folks. Aside from having cheap accommodations, you will be entitled to attractive amenities such as pool and fitness facilities.


Luxury condominiums are fast becoming hot real estate market as condo ownership does have some distinct advantages over stand-alone houses.

Cheaper – The lack of yard will make condo units cheaper, but this is a good option for first time buyers since it would be easy to buy one when they otherwise would not qualify for a loan or a traditional home.

Space – People downsize to a condominium once their kids are gone, since a bigger space is no longer necessary. This is also good for people in retirement age, since it would be easier to move around to do household chores.

Home Away from Home – Condominiums are great for people who constantly travel for work since you need not worry about burglary because of the level of security it provides.

Easy Maintenance – Stand-alone houses require a lot of maintenance works to keep them in good shape. With condo units, there will be a homeowner’s association responsible for the upkeep so you need not worry about leaking roofs or faucets.

No Lease – While your mortgage payment would be less than what you would pay for on an apartment, it will also be on a long-term mortgage and you will not be concern with lease renewals.

Amenities – The swimming pool is the standard, but you can also enjoy other amenities like racquetball courts, gas grills, community gathering rooms, and exercise rooms.

Social Advantage – The proximity of living quarters fosters socializations, and you will have long-term neighbors as oppose to apartments.

Location – Condominiums are usually built in urban locations where you will be closer to work, schools, hospitals, etc.

Tax Advantages – Condo ownership provides significant tax deduction since the monthly payments include mortgage interest.

Good Investment – With the right economic climate, it has potential for investment gain. You can also add improvement to increase the value of the property.

Luxury condominiums are not for everyone, but once you decide it is a good option, you may need to prequalify for a mortgage with about

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