Gone are the days where everyone was working hard and chasing after the dream of owning a house with a backyard and white picket fence in the suburbs. In fact, the number of people willing to buy a house has plummeted since 2008 and has not been able to recover since. Since people are no longer buying houses, they are clearly opting for other real estate options, and this is where the two most popular and common types come in, namely an apartment or a condo.
Apartments are mostly occupied by people who have just started to become financially independent, so most people throughout the age of 20 and so on. Now, apartments are very popular amongst the younger generation, but apartments are not permanent real estate options, instead, they come under temporary property ownership, so you only have your apartment till your lease expires, and after that, you have to either renew the said lease or get a new apartment.
Now, the other option is currently becoming a popular real estate trend and a lot of people are now moving towards it as a means of obtaining permanent property ownership, and that is getting a condo. Condominiums are just like apartments, only that they are usually bigger and well-maintained, and they allow you to actually buy the condo, so once you have made all of the necessary payments, you are a permanent property owner. This is why there are so many condominium projects coming out one after the other. Spirits Condos is one of the many new condominium projects that are currently underway and you can check out more details about it online. So, this shift in real estate trends is an interesting one, and only time will tell how long it will continue to go on this way before it shifts again.