There are as many types of housing arrangements in Manila properties as there are types of residential living spaces. Each type has a number of details that differentiate it from the others, and may offer advantages that will make it appealing to a certain part of the market. Manila real estate can be surprisingly flexible, and while some properties – high-rise condo towers in Makati, for example – are out of the reach of the average person, most housing tenures are accessible. Some of these apply to more than one type of housing property, such that a person who wants to buy an apartment in Makati might find he has more options than the usual available to him.
Owner occupancy is most common for those who are looking to buy a house in Makati, or any other city in the Philippines. This is usually the most desired, since the person living in the house is also the owner. As such, they have the right to alter the building and land as they see fit, adhering only to common sense, the Philippine building code, and any applicable regulations. This usually applies to houses, though it has experienced modification to accommodate other Manila properties such as apartments, condo units, and housing cooperatives.
Tenancy is most common among apartments, though it is not unheard of as an option for people who buy a condo in Manila. This usually involves some form of deed or title, and offers the advantage of a reduction in cost. Since the tenant only uses a portion of the space available, they are not required to pay the full price of the property. However, this also usually means they have to share with other tenants. The Manila real estate market has a large number of these Manila properties, including arrangements called bed-spacing.
People who buy a condo in Manila also have a different tenure than most homeowners or apartment tenants. The owner is essentially given control only of a limited area, usually extending only up to the walls of the unit or house. The common areas, cooling system, and amenities are still the property of the home owner and a fee will usually be charged for their maintenance. This fee is in addition to any payments made for the ownership or rent of the unit.
Cooperative housing is fairly uncommon in Manila real estate, though not entirely unheard of. This is a situation where a company or business decides to buy a house in Makati and proceeds to have it occupied by its own employees or shareholders. Note that this is limited only to occupancy, and the company still owns the property. This is usually an arrangement used by companies that need to provide living space for their employees, and the actual office building is not too far from the residence. This is not a particularly common practice in Makati due to the competitive market for residential Manila properties in the city, but can be found in cities such as Pasig or Quezon City, near their main financial districts.
The variety of Manila properties tends to match up well with the various types of housing tenure available. In many cases, however, the average buyer in the Philippines will find that many properties are strict about what types of tenure are allowed. For the most part, ownership and tenancy are among the most common, though condo tenure is also becoming prominent. Sometimes, the best thing that can be done is to search online for the best available properties.