WEEK 2 Flashcards
The Philippine housing markets reveal a tremendous gap between the demand and supply of housing. The problem emanates from the fact that the majority of households are unable to pay for the cost of housing and land.
Housing Shortage
4 Causes of Housing Problems in the Philippines
- Overpopulation
- Migration of people from rural to urban areas
- Poverty due to unemployment\
- Industrialization
refers to a population which exceeds its sustainable size within a particular environment or habitat.
Overpopulation
large-scale introduction of manufacturing, advanced technical enterprises, and other productive economic activity into an area, society, country, etc.
Industrialization
The real estate industry is very promising for many people. Real estate is considered a very good investment. Affordable loans from various financial institutions encourage Filipino to take advantage of borrowing with low interest.
Real Estate Boom
4 Residential Building Types
- Condominium
- Townhouse
- Apartment
- Dormitory
an individual unit residing in a building or community of buildings.
Condominium
an attached home also owned by its resident. One or more walls are shared with an adjacent attached townhome.
Townhouse
living space may consist of one room or a set of rooms, and it may be one of a few or several such spaces in the building.
Apartment
A room containing a number of beds (and often some other furniture and/or utilities) for sleeping
Dormitory
a fixed amount that is paid regularly
Rent
acquiring a property that may be loaned or paid in full
Buy
option of purchasing a leased property from its owner within a specific time
Rent-to-own
