Upscale living quarters, briefly, can be described as a condominium (CONDO). A condominium is a type of housing where the individual units are owned by the occupants, but the common areas such as hallways, elevators, and recreational facilities are jointly owned by all the unit owners. Condos are often located in urban areas and offer amenities such as swimming pools, fitness centers, and security systems. They are typically more expensive than other types of housing, making them a popular choice for those looking for luxurious living.