Apartment and Condominium: What is the Difference

It seems there is no difference from the apartment and condominium but the use of them. However, there are, actually, little differences between apartments and condominiums.

The term apartments come from the United States which refers to residential units that control a part of the building. One apartment building may have dozens or hundreds of apartment units. In the United Kingdom and Commonwealth countries, the apartment is better known as flat.

Meanwhile, condominiums are derived from the word con in Italian, which means together, and words Dominium which means ownership. By definition, a condo is a form of housing tenure in which particular part of real estate is privately owned, such as bedroom apartment; while the use of access to the public facilities is under the law of the ownership which is private and controlled by the owners association that describes the ownership of the whole piece. Thus, the use of the term condominium refers to the right to build, while the term apartments more emphasis on the physical building.

Distinctions between condominiums and apartments are generally associated with a form of ownership. Owners of condos do not have the land, the roof or the street itself. You may check the Park Place Residences price, for example.

Condominiums and apartments have different markets. It is also explained that the condo can be a kind of investment because it can be sold or rented. Meanwhile, apartments tend to refer to the occupancy dwellings rose to the top (high-rise). However, in its development, the apartments are now too many have had ownership status that sometimes the difference between condominiums and apartments are not so great. In addition, there is also a term serviced apartments and rental apartments. Serviced apartment is for rent apartments complete with maid service daily, while the rental apartment is rented an apartment with no daily maid service or daily service.

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