Definition Of A Condominium

A condominium is a type of residential property whereby a part of the development, usually an apartment unit, is individually owned but owners share common areas and facilities with one another.

In Singapore, "Condo" or "Condominium" are terms used for a housing development that comprises a collection of housing units with exclusive features like security guards, swimming pools and a gymnasium. Condominiums in Singapore come in the form of studio units, penthouse units, individual houses or multiple-room units.

In Singapore, a development is granted the condominium status only when the size of the site is at least 40,000 sq ft, and the residents share communal facilities. Basic communal facilities would include a swimming pool, gym, and BBQ area.

Owners of the condo unit become part of the condo association and they have an elected board that's comprised of members from their condo community. The elected board serves as the management and jointly represents ownership of the whole place.