When it comes to urban living, the terms "condo" and "apartment" are often used interchangeably. However, in the context of Cambodia, these two housing options have distinct differences.
In this article, we will explore the variations between both shedding light on their unique features and helping you make an informed decision.
Ownership Structure
One of the fundamental distinctions between condos and apartments lies in their ownership structure. In Cambodia, apartments are typically owned by a single entity, such as a corporation or an individual landlord. Renters occupy the units and pay monthly rent to the owner. This arrangement grants tenants flexibility, as they can easily terminate the lease agreement and move out with minimal hassle.
On the other hand, condos in Cambodia follow a strata-titled ownership structure. This means that each individual unit within a condo building is privately owned. Condo owners have full control over their units and share ownership of the common areas, such as hallways, gyms, and swimming pools, with other condo owners in the same building. The management and maintenance of these shared spaces are typically governed by a condominium association or management committee, consisting of elected condo owners.
Amenities and Facilities
Another aspect that sets condos apart from apartments in Cambodia is the availability of amenities and facilities. Condos often offer a wide range of luxurious features to attract buyers or tenants. These can include swimming pools, fitness centres, rooftop gardens, concierge services, parking facilities, and 24/7 security. The presence of such amenities contributes to a more upscale and exclusive living experience.
While some apartments in Cambodia may also provide basic facilities like elevators or parking spaces, they generally lack the extensive range of amenities commonly found in condos.
Apartments offer affordable housing options without added luxury or exclusivity.
Price and Affordability
Considering the ownership structure, amenities, and overall ambience, it is no surprise that condos in Cambodia tend to be pricier than apartments. The added benefits and convenience associated with condo living contribute to their higher market value. Condos often target affluent individuals or those seeking a more lavish lifestyle.
The prices of condos in popular neighbourhoods in Cambodia are generally found in the capital Phnom Penh. The prime locations are known as BKK, Koh Pich and Chamkarmon.On the other hand, apartments in Cambodia are generally more affordable. They cater to a wider range of budgets and are suitable for individuals or families looking for budget-friendly accommodation options.
Apartments are often favoured by young professionals, expatriates, or students seeking a convenient living arrangement without breaking the bank.
Legal Considerations
When it comes to legal considerations, the Cambodian government has specific regulations governing the sale and ownership of condos. In 2010, Cambodia introduced the Strata Title Law, which enabled foreigners to own condos above the ground floor. This policy aimed to attract foreign investment and stimulate economic growth. However, it is essential to familiarise yourself with the latest regulations and seek legal advice when purchasing a condo as a foreigner in Cambodia.
In contrast, there are no specific legal restrictions on foreigners renting apartments in Cambodia. Renting an apartment is a relatively straightforward process, and expatriates or foreign workers can easily find suitable options depending on their budget.
While the terms "condo" and "apartment" are often used interchangeably, the few main points to summarise the distinctive features between both are:
- Condos offer a strata-titled ownership structure, a variety of amenities, and a higher price range.
- Apartments are usually found in buildings built before 2010 and are not eligible for strata titles. It is an affordable housing option with basic amenities such as parking spaces, or elevators if provided.
Whether you are looking for an apartment or condo in Phnom Penh, we have more than 40,000 listings on our website!
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