Call it an apartment, a flat, or a condominium, the residential units are always in high demand due to increasing urbanization and affordable price.
Apartment or condominium?
Usually, both terms refer to the same type of residential unit located on any of the floors of a tall building. In Singapore and the United States, condominiums are individually owned units but they resemble Asian apartments in most ways. Property management companies manage most condo buildings that proceed sustainably. In Pakistan’s real estate market, the apartment is the most widely used term to demonstrate a living place with multiple rooms, sitting area, kitchen, and other necessary sections.
Originally, the world’s first condominium structure was built in 1960 in Salt Lake City of the US. The idea seems to be influenced by the European models of the time.
Apartment or flat?
In Pakistan, the US, and the UK, apartment buildings are owned and managed by a single entity. The developers then sell these units to the investors separately. Finally, the managing company handovers these units to the respective owners and disposes of its responsibilities. Bahria Town Karachi rates for apartments are just comparable to any other luxury living landmark. Again, the Americans use the word ‘flat’ to refer to an ultramodern and cozy apartment.
The term ‘flat’ was first used in 1795 to describe the inner part of a floor-house. Now known as a separate portion.
Bahria Town Karachi map exhibits skyscraper apartment buildings. Town’s first authorized company Ali Saqlain Real Estate & Builder has constructed and developed more than 10 apartment buildings. Bahria Town Karachi prices for luxury apartments are substantially less than the value of a house for sale in Bahria Town Karachi. You would hardly find any property agent or real estate investor using the expression ‘condominium’ in Pakistan.