IPA: /ˌkɒndəˈmɪnɪəm/
KK: /kɒndəˈmɪnɪəm/
A type of building where individual units, like apartments, are owned by different people, while shared areas, such as the grounds and structure, are owned together by all the owners.
She bought a beautiful condominium near the beach.
Condominium → It is formed from "con-" (meaning together) and "dominium" (from Latin, meaning ownership or property). The word "condominium" refers to a form of ownership where multiple individuals share ownership of a property together.
Think of people owning property 'together' ('con-') — that's why condominium means shared ownership of a property.