Financially this does seem straightforward. However your personal circumstances may change, in 5 years time you may have 2 kids. A small central apartment won't suit you then.
In the past that wouldn't have mattered as you could sell the apartment and take the increased equity to a larger home.
As Joe points out above this wasn't possible for those who bought at the height of the boom. However it has been possible for purchasers at almost any other time.
You say that you could "hold off until you can afford a bigger place", this suggests that even at present, i.e. paying rent yourself and no tenant, you are saving. If you buy now will you be able to "afford a bigger place" even sooner than if you continued renting.
Finally Apartments can have problems, and that €1,100 service charge is a bigger issue than you might imagine. Capitalise it at the 3.5% of your mortgage and you get €31,400. An the service charge is eternal and possibly increasing, so it is at least a €31,400 issue.
That caveat aside. If the apartment provides suitable living accommodation for you for at least 3 years then it seems a good idea to me. You can't live your life in fear.