What is a condominium? Condominiums definition, commonly found in European and Asian countries, is one of the living options in an apartment building. Choosing between an apartment or condo can be confusing if you don't understand the differences between an apartment and a condo. However, armed with the right information, finding the ideal property in Cyprus, whether for personal use or rental purposes, can be straightforward. In this article, we'll explore the main differences between an apartment and a condominium to help you make an informed choice and avoid misunderstandings.
Content:
- Difference between condo and apartment
- Amenities
- Rent
- Safety and security
- Summary
- Let us help you find property in Cyprus!
Difference between condo and apartment
What is an apartment? Living in an apartment meaning an enjoyable experience, whether you own or rent the property. This type of property is located in standard multi-story buildings, which can be found throughout the island. This includes older buildings - stone buildings of 3-4 floors with pitched roofs, often captured in travelers' photographs.
What is a condo? Condos, or condominiums, are more comfortable and prestigious residential properties, privately owned and often available for rent. They are modern, mid-rise to high-rise buildings located within an area designed with well thought out internal infrastructure.
Occupancy in a condominium involves individual agreements between the property owner and potential tenants. This allows owners to make informed decisions about who can rent the property, for how long, and provides flexibility in terms of rental terms and rates. However, in many cases, a professional property management company may operate within the condominium in Cyprus. Such an approach helps to ensure the availability of a team to handle technical maintenance and service-related aspects.
Amenities
When considering apartments in Cyprus, don't expect high quality interiors. Apartment buildings generally offer standard spaces with not-so-recent renovations. There are likely to be minimal additional amenities in the surrounding area, at most a small playground. If you're planning to buy a property in an apartment building, it's important to personally inspect the property.
In contrast, condominium residents will enjoy significantly more additional amenities and services. In the complex, you are likely to find luxurious options such as concierge services, reception areas, parking, outdoor recreational areas, a fitness center, and even an indoor or outdoor pool, depending on the size and location of the property.
Rent
In terms of conditions, neither apartments nor condominiums have fixed rents, and it is not necessary that one will be more expensive than the other. However, any additional benefits of a property, whether it's a recent renovation or new appliances, may affect the price. Since condominium complexes are modern residential projects with a range of premium amenities, rental costs will be higher.
Safety and security
When you’re faced with a ‘condo vs apartment’ dilemma, you should also consider security issues. Typically, condominium complexes come with modern surveillance and security systems. Residential projects are built within gated areas where you and your children can feel safe.
Regular apartment buildings may not have the same level of security. Buildings may be located near roadsides or in open areas, allowing unrestricted access to visitors-anyone can enter.
Summary
Deciding what type of housing to buy depends on your needs and preferences. We recommend that you consider cost, location, maintenance, and the quality of the internal infrastructure. Be sure to ask the seller for more photos of the exterior of the house, not just pictures of the interior. This will help you avoid visiting properties in person that may not suit you in terms of comfort or aesthetics.
Let us help you find property in Cyprus!
Becoming an owner of apartments or villas in Cyprus is easy! Contact our specialists for a selection of modern condominiums, examples of apartments and other properties on the island. You can expect a personalized approach, housing options that fully meet your specified parameters, assistance with document preparation and support throughout the transaction.