Will A Condominium Be Demolished After 50 Years?

 

Here's a breakdown of the fact vs. fallacy surrounding condominium demolition after 50 years, specifically focused on the Philippines:
Fallacy: There is a common misconception that condominiums in the Philippines are automatically demolished after 50 years.
Fact: The Condominium Act of the Philippines (Republic Act 4726) does not mandate demolition simply due to age. Here's why:
Conditions for Demolition: A condominium can be demolished if it fulfills the following conditions:

• Age: The building is over 50 years old.

• Obsolescence: It is deemed obsolete and uneconomical to repair. This means the costs of bringing the building up to modern standards and safety codes would be unreasonable.

• Majority Vote: A majority of unit owners (more than 50%) must vote against repairing or modernizing the building.

• Renewal of Corporate Existence: Condominium corporations, like other corporations, can renew their existence for another 50 years, extending the potential lifespan of the building.

Important Considerations:

• Maintenance: Well-maintained condominiums, even older ones, can remain structurally sound and habitable. Regular upkeep and addressing issues as they arise will significantly extend the building's lifespan.

• Advancements in Construction: Modern building materials and technology ensure new condominiums are even more durable. It's likely buildings constructed today will remain in good condition well past the 50-year mark.

• Owner's Rights: Even if demolition is approved, condominium unit owners are entitled to a share of the sale proceeds if the land is sold to a developer.

In Summary: The 50-year mark is not a death sentence for condominiums in the Philippines. The decision around continued use or demolition is based on a combination of factors, including the building's condition, economics of repair, and what the unit owners themselves want.