Real estate contributes their part in the balancing of the country’s economy, so they are considered as the most important sectors of the society. They reinforce a critical part in the lives of every individual who owns a land, especially to their income. Universally, real estate is a property that includes land, buildings and all natural resources within that area. Therefore, all physical structures that are inside, above or underground land of that field whether movable property, crops and natural mines including water are considered as real estate property.
There are three categories or classification under a real estate property and the most important of them all is the land. Other categories are the commercial and the industrial real estate which also plays an important role in the development of the economic progression of the country. These two real estates are involved in producing, buying and selling which are considered as the fundamental breakthroughs that boost the economic success of the state. Below are some explanations of how these real estate properties help to improve the economic situation of the country.
Of the three real estate properties, the residential real estate is the most adaptable and considered as the main aggressor to the advancement of our economy. Residential real estate is engaged in the construction of home building whose purpose is to sell it to any individual who wants to have a house of their own. The most favored type of this residential real estate in the single structured home family typed building, whether it is a bungalow type, two story residential type or any size that buyer would prefer. Nowadays, most home developers will include home building structures in their businesses in the form of condominiums, townhouses, duplexes and high value homes located in a subdivision area.
Commercial real estate properties are real properties purposely built for commercial aspiration such as shopping centers, strips malls, hotels, medical buildings, offices and educational complexes. However, apartments, suites and pension houses are directly built and fall in a residential real estate property category, they are treated as commercial because their nature of business is producing an income in the form of rentals.
In any other way, industrial real estate properties are buildings that are specifically made for research, storage, production and warehouses. However, there are buildings of the industrial real estate category that had been used for distribution point of goods are now considered as commercial real estate category type.
vending of these real estate property categories will help provide a massive contribution in expansion of the economy of the country. After all, lots of people of today are in the aspiration to become a real estate agent because of a promising income that it brings.