Medium Rise Condos are the New Real Estate Trend

On September 20, 2008 by Lauren

Today’s real estate developers are switching from building high-rise condominiums to medium-rise condominiums, mainly for economic reasons. Going higher will obviously result in higher construction costs as this will need more concrete, steel, wiring, workers, and other construction materials. For developers who are trying to cut costs, the advantages of making medium-rise condominiums are far greater.

Lower construction costs means lower selling prices, thereby making the units more affordable to more people. Medium rise condominiums are usually constructed at sites where building detached houses are no longer practical because of increasing land costs. Thus, medium-rise condominiums fill the gap between high-rise condominium buildings and detached houses. Medium-rise condominiums are also better at complementing the lifestyles of the residents, since it provides them simple luxury and all the modern day conveniences they need.

For high-density commercial areas such as Makati and Ortigas, however, medium rise buildings are not so practical because the developer has to recover the land cost from the number of sold units, which can only be accomplished if the building goes higher. However, there will be more medium-rise buildings in the outlying areas of the main business centers.

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