The phrase "this property is condemned" generally means that a building or property has been officially declared unfit for use or habitation by local authorities, often due to safety, health, or structural concerns. The property may be unsafe to live in or use and is typically marked with signs or notices to warn people to stay away. Based on search results, "This Property Is Condemned" is also the title of a 1966 American drama film directed by Sydney Pollack and starring Natalie Wood and Robert Redford. The film's story is set during the Great Depression in a small fictional Mississippi town and revolves around a boarding house that ultimately gets condemned by local authorities as unfit for human habitation. The title refers to this aspect of the plot rather than just the phrase's literal meaning.

So, in summary:

• In common usage, "this property is condemned" means a property is deemed unsafe and unfit for occupancy.
• It is also the title of a 1966 film about a boarding house in a small town that is condemned.

If you want information about the meaning of the phrase in the context of buildings, or about the film "This Property Is Condemned," please specify.