Real Estate Definition along with its Types
A material or an object that remains fixed permanently is called as real estate. Real property is another name known for real estate. Examples of real estate or real property are roads, utility system, trees, apartments etc. Now let’s focus on some of the types of real estate.
- Industrial Property or Real Estate – An industrial property or real estate is nothing but a structure built for the carrying out the purpose of industrial activities. Some of the industrial activities include storage, distribution, production etc. When it comes to goods distribution, an industrial real estate can also be regarded as commercial real estate.
- Residential Property or Real Estate – A residential property or real estate is nothing but a structure built solely for the purpose of living. However, a residential property can also be regarded as commercial property when it comes to running an office or a facility for storing goods. This type of property is where many investors prefer to invest in.
- Commercial Property or Real Estate – A commercial property or real estate is nothing but a structure built for the sole purpose of earning money. Some of the examples of such kind of property include; IT industries, shopping malls, offices etc. Another purpose of commercial property is to offer a service by a business to a customer.
- Land – A land is also an example of type of real estate when it is found in the form of a soil or flat ground. The land can be in the early development stage.
Make sure you hire the best property lawyers in Brisbane if you’re interested to buy one.