The real estate market’s constraints in terms of land area drove property developers to construct condominiums, which are space-saving structures composed of individual residential spaces for people who aren’t too particular with owning land. A typical condominium contains several living units across at least two floors. Compared to apartment complexes, condominiums offer more value-adding amenities such as common greenspaces, swimming pool, and sports center. If you’re planning to own a condominium unit, be prepared for monthly association fees, which are used for maintenance of the entire property. Overall, a condominium unit costs less than a single family home and has less upkeep costs, but provides less privacy.