Refers to a condominium (privately owned apartment unit) in the Japanese real estate context. Often contrasted with アパート (rental apartment).
都心に新しいコンドミニアムが建設中です。
A new condominium is under construction in the city center.
He bought a condominium and is renting it out.
He purchased a condominium in Hawaii.
We live in a condominium near the sea.
During the trip, we rented a condominium for just one week.