A condominium is a residential property which is shared by a number of co-owners or co-renters. Typically, this category denotes a cluster of homes housed within a single building or compound which have been constructed by a single developer. Residential apartments and row houses are common examples of condominiums.
In Switzerland, condominiums are known as “Mehrfamilienhaüser” (German) or “Immeuble locatif” (French). The German term “Stockwerkeigentüm” specifically denotes apartments in apartment buildings.
The average values of condominiums in Switzerland are tracked by the SWX IAZI Condominium Price Index.
Condominiums may be fully owned by a single owner, or they may be jointly owned by a number of different owners. When a condominium is jointly owned, the share of ownership held by each owner is known as the co-ownership share (German: Wertquote). The greater an owner’s co-ownership share, the more of the condominium they own.
Swiss law lays out clear rules related to condominiums. Swiss condominiums may also have clear statutes which are jointly decided on by their owners and must be adhered to by all co-owners and renters.
Cooperative housing typically falls under the condominium category, though this is not always the case.
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