Condo is the common short form used for condominium. In recent times especially, condo is used in place of condominium. A condo is a form of housing tenure. Condo is a short term often used in the United States. Condo is also mentioned in most provinces of Canada and other major cities. Condo can be a type of joint ownership of private property. In a condo, some portions of the condo are individually owned and other portions of the condo are communally owned. In the United Kingdom, the equivalent of a condo is commonhold, but this form of condo ownership was only introduced in 2004 and the term, condo, is so far rarely used. Colloquially, the term, condo, is often used to refer to the individual condo unit, instead of apartment.

The first condo in Singapore was built in the late 1970s. As rich Singaporeans continue to grow more affluent, the condo, a form of private property, grew more popular. In recent years, private property has boomed, condo slowly became an everyday word. Due to the loosening of some government policies on private property ownership, the condo has been snapped up quickly. Hence, this has particularly boost the sales of condo units.

Pros and Cons of living in a Condo

The condo is the most common type of private property in Singapore. Anyone who does not want to live in public housing, will want to live in a condo. This public housing, locally known as HDB flats, seems mediocre when compared to a condo. More affluent parties will select the prime locations for a condo. To cater to the less affluent, more condo projects have been sprouting in the heartlands.

The pulling factor of a condo lies in the prestige the condo has to offer. In addition, condo developers have taken into account the various facilities they can squeeze into the condo project, so as to further value-add into the condo owner's budget. It is a sea of condo developments to consider only one condo as your own.

See also -Executive Condominium

See also -Condominium