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If you buy a condo apartment for investment, you have to make sure that prior to make an offer among some other specifics, the condominium association allows at least two (2) rental times in a calendar year and right after the posesion of the property. The more rental times per year, the better. Some condominiums don't allow a rental before the first year or two years of proprietorship. Make sure you hire a good realtor with a lot of expertise in the area you plan to invest in.
If it were possible to have all other factors equal, a standalone single family house will appreciate faster in times of rising real estate prices, and decrease in value slower in times of declining prices, than a condo.
But it's impossible to have all other factors equal.
"Condo Apartment" can mean anything from a unit in a run down complex on the bad side of town that was converted to condos because the prior owners found it financially advantageous, and the condo board is run by one or two people who are basically skimming off the top for their own purposes, selling price in the low tens of thousands of dollars,
to
A unit in a 40 story building in lower Manhattan, 3000 sq. ft, purchase price in the multiple millions of dollars, with doorman, complete security services, concierge, etc.
Unless you bite the bullet and supply us with some specifics of the "condo apartment" you're considering and the alternatives you're considering, the question you've asked is the same as
A condo and apartment aren't the same thing. You don't even know the difference and you're asking this very vague question. Is it a condo conversion from a former apartment? Maybe if you made an effort to provide a little more information someone will make an effort to give you an informed answer. I can't stand these lazy posters. At least meet everyone else halfway instead of wanting others to do all the work for you. Stop being LAZY. To answer your question it's yes, no, and maybe.
A condo and apartment aren't the same thing. You don't even know the difference and you're asking this very vague question. Is it a condo conversion from a former apartment? Maybe if you made an effort to provide a little more information someone will make an effort to give you an informed answer. I can't stand these lazy posters. At least meet everyone else halfway instead of wanting others to do all the work for you. Stop being LAZY. To answer your question it's yes, no, and maybe.
Agreed, but in densely populated cities, condo and apartment are used almost interchangeably by the general public. American English usage is not a requirement of this forum, and even then, New Yawkas will often talk about buying their apartment, as opposed to condo or coop. Details are always best, when look g for a good answer. Someone paid 65 million usd for a 4500 sf apartment in Hong Kong last year...
Agreed, but in densely populated cities, condo and apartment are used almost interchangeably by the general public. American English usage is not a requirement of this forum, and even then, New Yawkas will often talk about buying their apartment, as opposed to condo or coop. Details are always best, when look g for a good answer. Someone paid 65 million usd for a 4500 sf apartment in Hong Kong last year...
Okay you have a point there, as I've often heard of condo and apartment used interchangeably too (never heard of a condo apartment though). However, that's a minor irritation point for me with the OP. What irked me the most with this post, as well as others like it, is that it appears the OP is too lazy to provide any further details about their question. Feels like a kid asking a question. I know, first world problems, but really, it's just pure laziness to me. Not to mention a waste of a post.
No doubt HK real estate prices are nuts. And I thought prices where I live are high. Visited several times and I know I'd never live there.
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