![]() Examples include shopping malls, individual stores, office buildings, parking lots, medical centers, and hotels. #3 CommercialĬommercial property refers to land and buildings that are used by businesses to carry out their operations. ![]() ![]() Within residential, there are single-family homes, apartments, condominiums, townhouses, and other types of living arrangements. This is the most common type of estate and is the asset class that most people are familiar with. Residential real estate consists of housing for individuals, families, or groups of people. Developers acquire land and combine it with other properties (called assembly) and rezone it so they can increase the density and increase the value of the property. Land typically refers to undeveloped property and vacant land. Land is the baseline for all types of real property. The main categories are:įor anyone looking to understand how the industry works and what each of the major categories represents, the explanations below will be a helpful guide. There are several types of real estate, each with a unique purpose and utility. Property rights give a title of ownership to the land, improvements, and natural resources such as minerals, plants, animals, water, etc. Real estate is real property that consists of land and improvements, which include buildings, fixtures, roads, structures, and utility systems.
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