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Owning a Condo: the Rising Trend in Malaysia

Our world today is undeniably developing fast. Looking around, you can see new advances every day. In Technology, a lot of technological devices are being invented and released to the public. For food, new dishes and food products are being made- those that are never seen before. But one of the most noticeable changes is the emergence of the skyrise buildings. Do you still remember, when your place has only five to ten houses or buildings? Compared to the present, there are a lot of changes in the structure of the houses, business establishments, factories, and many other types of buildings. And one of the buildings that this article wanted to tackle is the rise of the condominium.

As defined in Investopedia, a condominium is a large property complex that is individually divided into units and then sold.  Some of the well-known condominiums in Malaysia are the Condo for rent in Ampang Hilir, Bandar Utama Condo for rent, as well as, Damansara Utama condo for sale. Many real estate corporations have continued to build condominiums in every key part of Malaysia. But, have you ever stopped to think why this is happening? Here are some of the reasons that may enlighten you.

Living in a condominium allows you to live a life of convenience and practicality in this fast-paced world. Imagine people who need to endure long hours of travel just to reach their place of work, the hospital, the malls, or their schools. Condos are built often in the heart of the cities and whether we like it or not. Cities and time do not slow down for anyone. Living in a condo is convenient since most of the condos are strategically built in areas with fewer traffic sites. Furthermore, you wake up on a building with the best view in the city and confident and assured of your safety and security. Add a new knowledge about healthcare and a good lifestyle here.

Currently, Malaysia has a total population of 32,365,999 based on the data projected by the United Nations. This number is not stopping and in fact, will continue to increase in the upcoming years. An increase in population means an increase in houses. And the increase in houses means an increase in space. And this increase can pose a great problem. Condominiums can be a great way to help solve this problem since condos only use a small portion of land but can house a lot of people.

Most people nowadays, prefer to rent than owning a house since renters are worry-free on the maintenance of the house, taxes, bills, and other unexpected house expenses. That is why one of the reasons for the abundance of condos is because condos are a good way of investing.   With the rise of demands, the money you invested will surely double. Rental properties, like condos, are also a click for tourists. Since foreigners cannot own land in a foreign country, a house for rent like a condo is the best choice for them.

Condos exist for a lot of reasons. Buyers and renters see condos as safe and secure, budget-friendly houses. It is also a good way for investment. 

Alya Hashim

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