Some of your mortgage payment is a capital repayment; since you are paying down your loan, it is not a cost as such comparable to paying rent. In comparing the costs of buying and renting, you should compare only the interest payments to the rent paid. You should also add to the interest payments the other costs of ownership, the main one being the management company payment. When you compare the interest and other costs of ownership to the rent there may not be a huge difference. The benefits of ownership usually arise over time. Rents (usually) rise over time; the costs of mortgage can also rise and interest rates will most likely rise. However, over time rents are prone to ongoing increases while mortgage payments do not rise in the same ongoing way and usually over time will fall behind income growth. The other financial benefit of ownership is potential capital appreciation.
There are other considerations. There is a sense of security from ownership; conversely renting has a benefit of flexibility.
I would agree with Rainyday that if you are planning to stay in the apartment for a number of years that it's best to buy. There is the risk that prices could fall but I would still be inclined to buy if you are planning to be there for some years.
Noel