A condominium is a type of real estate similar to an apartment in the sense that both have a stand-alone space that is subdivided into a living room, sleeping area, kitchen, and bathroom.
The obvious difference between the 2 residential spaces is that a condominium is usually a unit located in a jointly owned building. Each unit is independently owned using a Strata title and common areas are jointly owned and managed by an association of the unit owners.
A condominium building is a type of structure that is divided into several units, each separately owned. The common areas surrounding the units are collectively owned.
Common areas would include hallways and walkways, laundry areas, common utilities like generator and security system and facilities like swimming pool, gym, multipurpose halls, and elevators.Apartment versus Condominium
Apartments and Condominiums are generally the same and it is hard to distinguish one from the other. Their distinction is basically from a legal point of view and form of ownership.Characteristics of a Condominium
A condominium is basically separate units and common areas in a shared land. Ownership is only within the walls or boundaries of the units. The division of the space is specified in the Strata title that the developer will provide the unit owner.
The ownership will include the walls around the condo. The specific owner can make personal modifications that should not affect the common areas. Anything beyond the boundary is considered common area and jointly owned by the collective owners in the building.Mixed-Use Condominium Building
Some condominium buildings are considered mixed-use real estate properties. These types of structures usually have retail stores on the street level and then residential spaces on the upper floors. They share common spaces like the gym, swimming pool, lobby, reception desk, and building security.
Similarly, condominiums can also be used as offices, short-term accommodations or AirBnB, hotel rooms, bank offices, housing facilities for the elderly or staff dormitories, retail shops, and restaurants.
There is also a common practice of condo unit owners leasing their units to tenants thru lease or monthly rental agreements. Although still categorized as a condo unit, it then already functions as an apartment space.Condominiums in Cambodia
In Cambodia, condominium buildings are available in Phnom Penh, Sihanoukville, and Siem Reap. Most of these buildings are pretty new, considering that the Law on Strata titles had only been passed in 2010.Advantages of Living in a Condominium
A condominium unit offers their owners enough space to live in style, high-quality furnishings to live comfortably and the convenience of not having to worry about security. The additional amenities being offered in condominium buildings is also beneficial. Owners do not need to pay extra for swimming pools and gym memberships.
Some buildings also offer laundry facilities, concierge services, cleaning services, internet, parking spaces, and guards to ensure security. However, these amenities may be added to the management fee that owners need to pay.
Our listing features properties in Phnom Penh, Sihanoukville, and Siem Reap. We partner with the developers to ensure that we feature the latest available properties in the market. Descriptions of condominiums for rent and sale will specify the property features, included furnishings and available amenities of the property that you wish to lease or acquire.
Depending on your budget, the number of rooms, quality of the furnishing and additional amenities, our listing can cater to your specific needs.