Due to the rise in housing prices in the last few years, condominium demand has increased and more and more people are searching to own a condo rather then a house. As, the mortgage interest rates are low therefore people spend most of their income on mortgage payments in order to own a residence. So, preference on condos is more due to the affordability reasons.
Residential homes offer a lot of freedom with privacy as compare to condo units. One might modify or beautify the interiors according to your choice.
On the other hand, condo living provides a worry free life as one does not worry about the house hold chores like lawn mowing, building deck and maintaining the yard. One might enjoy these luxuries including squash courts, spas, recreation and fitness room, swimming pool and guest suites which are not available in ordinary houses.
During the past 20 years, it has been observed that there is an increase in single parent families and law couples which has reinforced people to adopt a condominium life style.