Types of Real Estate Properties
One of my cousins is into the field of Real Estate, since I am taking an interest in the field, I keep asking him about a lot of things which he elucidates with great patience. The last time I visited him, I wanted to know the kinds of properties developers deal in mostly. According to him, people in the field of Real Estate; mainly have three types of properties in which they deal in: Residential, vacant properties and commercial properties.
Residential properties
My cousin, who happens to be an Industrial real estate developer,states that residential properties are the most widely dealt in properties. They are either to be sold, purchased, leased out, or rented. He says that this one of the most profitable source of property. The properties can be flats in apartments to penthouses, to duplexes.
Unoccupied Land
A vacant land is of immense worth! Real estate developers have a keen interest on this kind of land. They are usually sold to facilitate a building, an office or any other construction. This usually involves huge sum of money, but in India, land is given a lot of importance and is an important asset to the holder. Nowadays, the practice of selling off ones land has become prevalent, but till date people prefer owning lands to themselves as it generally has a family name attached to it.
Commercial Properties
Residential properties
My cousin, who happens to be an Industrial real estate developer,states that residential properties are the most widely dealt in properties. They are either to be sold, purchased, leased out, or rented. He says that this one of the most profitable source of property. The properties can be flats in apartments to penthouses, to duplexes.
Unoccupied Land
A vacant land is of immense worth! Real estate developers have a keen interest on this kind of land. They are usually sold to facilitate a building, an office or any other construction. This usually involves huge sum of money, but in India, land is given a lot of importance and is an important asset to the holder. Nowadays, the practice of selling off ones land has become prevalent, but till date people prefer owning lands to themselves as it generally has a family name attached to it.
Commercial Properties
These can both be an empty land, or an existing building left for commercial use. Warehouses in India are one of such examples. A lot of times big, empty areas are let out for commercial purposes like that of warehousing. Commercial property valuation is generally a more complex procedure, as the income potential of the property is taken into consideration. The space’s historical revenueis also taken into account. It is advisable to enter dealing in this kind of property only if someone has a strong experience of business valuation.
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