Condominium Real Estate Asset
type: Class
preferred label: Strata Title Unit
alternative label: Condo
subclass of: RUBVBTCdh2Pbwc0lQCuZo9
definition: A condominium real estate asset refers to a type of property ownership where an individual owns a unit within a larger building or complex and shares ownership of common areas with other unit owners. Unlike a single-family home, where the owner controls the entire property, in a condominium, the individual unit ownership is coupled with a proportional interest in communal facilities like hallways, gardens, and amenities.