What is a condominium?

A condominium is a type of residential property where an individual owns a specific unit (such as an apartment or flat) outright, while jointly owning and sharing common areas like hallways, elevators, parking spaces, and amenities with other residents in the building or complex.

Key Features of a Condominium

• Individual ownership of a private residential unit
• Shared ownership of common areas and amenities
• Monthly maintenance or association fees
• Managed by a homeowners association (HOA) or society
• Legal property title for each unit owner
• Access to shared facilities like gym, pool, and security

Types of Condominium Properties

Residential Condominiums

Includes apartments and flats, as well as townhouses in gated communities designed for private living with shared amenities.

Commercial Condominiums

Includes office spaces and retail units located within commercial complexes or mixed developments.

Mixed-Use Condominiums

Combines residential, commercial, and sometimes recreational spaces within a single development project.

A condominium is a residential property where individuals own their private unit while sharing ownership of common areas and amenities with other residents. It blends private ownership with community living and shared facilities.