In my experience in Toronto Real Estate most, if not all balconies in condo buildings are actually common elements. The suite that’s attached to them has the exclusive right to use them, but it’s not part of the suite itself.
I’ve also come across a few cases where the owner of a suite has enclosed their balcony (even with the condo board’s approval) and they are still considered common elements. Click Here for a link from the Toronto Star .
I should also mention that you may not own your parking spot either. Click here to see my previous article on this subject.