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Buying a condominium means buying an individual unit in a property with public areas owned and managed by a homeowner's association. Buying an apartment usually means buying a share of ownership ...
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You might not get a great deal from buying a house.
[38] [39] The Law on Residential Housing (No. 65/2014/QH13), effective since July 1, 2015, allows foreigners to purchase condominiums in Vietnam. [40] [41] However, there are restrictions: foreigners can own up to 30% of the apartments in a condominium and a maximum of 250 individual houses within a designated area.
Passage of the Condominium Act then opened a wave of construction of condominium buildings. [40] The cooperative form can be advantageous as a building mortgage can be carried by the cooperative corporation, leaving less financing to be obtained by each co-op owner. Under condominium ownership only the separate condo owners provide financing.
A lower-rise apartment building on the left side of the Avenue of the Americas in Manhattan, juxtaposed next to a skyscraper apartment building. An apartment (American English, Canadian English), flat (British English, Indian English, South African English) [a], or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building ...
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For example, an owner would like to have a pool but cannot afford one. When buying a condominium with a pool in a CID of one hundred units, an owner would have use of that pool for basically one-hundredth of the cost due to sharing the cost with the other 99 owners. [5] Timeshare, or vacation ownership, is the same concept. Buying a second home ...