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

The first condominium in Singapore was built in the late 1970s as rich Singaporeans continue to grow more affluent. In recent years, private property has boomed, due to the loosening of some government policies on private property ownership. This has particularly boost the sales of condominium units.

Pros and Cons of living in a Condominium

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

The pulling factor of a condominium lies in its prestige, as compared to public housing. In addition, developers have taken into account the various facilities they can squeeze into the project, so as to further value-add into the private property owner's budget. It is a Great Barrier Reef of condominium developments to consider one as your own.

See also -Executive Condominium

See also -Condo