Real Estate refers to land, including any buildings or structures on it, along with the natural resources such as water, minerals and crops; that are attached to it. It encompasses residential, commercial and industrial properties as well as vacant land.
The real estate industry involves various activities, including buying, selling and leasing properties. It plays a crucial role in the economy and is often considered a significant investment asset class. Real estate can be a source of income through rental properties or a means of capital appreciation through property value appreciation over time.
Types of Real Estate :
- Residential Real Estate: This includes properties designed for private occupation such as single-family homes, apartments, condominiums, townhouses and vacation homes.
- Commercial Real Estate: Commercial properties are used for business purposes such as office buildings, retail spaces, shopping centers, hotels and warehouses.
- Industrial Real Estate: Industrial properties are specifically designed for manufacturing, production, storage, and distribution activities. They can include factories, warehouses, distribution centres and industrial parks.
- Land: Vacant land or undeveloped parcels are also considered real estate. Land can be purchased for various purposes- such as agricultural, residential, commercial or industrial development.