By real estate, we mean any land and other permanent buildings, structures, homes, and units attached to it. Real estate equates to actual properties and is different from personal properties like cars, motorbikes, jewelry, equipment, furniture, and so on
Real Estate equates to actual/real property. The natural right of individuals to have property ownership dates back to Greek and Roman times. The appraisal profession started flourishing from the 1500s in England, with land-clearing and preparation required for agricultural requirements. Surveying and Appraising became important terms throughout England and North America respectively. The Law of Nations in 1758 played a major role in the concept of private ownership of property. The Louisiana Purchase was one of the biggest initial property deals in the world, taking place in 1803, with the signing of the Louisiana Purchase Treaty, giving ownership of this territory to the U.S. The land was purchased from France. The oldest brokerage firm for real estate was set up at Chicago, Illinois, in 1855. It was initially named L.D. Olmsted & Co.
Real estate includes land and anything attached to it, including homes and buildings. There are several categories of real estate, including industrial, commercial, residential, land, and special use real estate.
Real Estate has several types as mentioned. Residential real estate means any property used for occupation/residential purposes. These include single or multi-family homes, apartments, independent houses, villas, condominiums, townhouses, bungalows, duplexes, cooperative housing societies, and more. Commercial real estate means properties used for business objectives, including office spaces, stores, hospitals, restaurants, shopping outlets, theaters, parking facilities, commercial complexes, etc. Industrial real estate means any property that is used for production/manufacturing and other needs like storage, distribution, R&D, etc.
Land means any property which is undeveloped, vacant land parcels, agricultural land, and so on. Special purpose real estate means public properties, including parks, government buildings, places of worship and gatherings, libraries, educational institutions, and so on. Investing in real estate means buying property. The buying and selling of real estate is what makes up this industry. One can purchase real estate for end-use or as an investment. The main players in the real estate spectrum are the developers, builders, landlords, tenants, buyers, real estate agents, and so on.
