Real estate includes real property including the structures and land on it, and its accompanying natural resources like water, rocks or minerals; immovable real estate of this sort; a lien vested upon such an object of real estate, buildings, housing or land in general. Real estate also includes personal property held by the individual for his benefit; such property may be in the form of money, securities, deeds, etc., or may be in the form of personal possessions. Real estate involves many categories. Within these categories real estate includes such varieties as public infrastructure, residential real estates, business real estate, industrial real estate, agricultural real estate, financial investments, franchises, land speculators’ properties, landlord-tenant relations, residential land development and so on. The scope of real estate is thus vast.
Real estate, including the various types mentioned above, can be used by individuals for any purpose, and even to earn profits from it. A building can be rented out to recover the costs incurred in constructing it, or it can be leased out to bring in more income. It can be used as a business venue, a place to live or a retail outlet. Public facilities can be built on the land to provide basic services, or they can be built to provide recreational facilities, like swimming pools and parks. Private schools can be established on the real estate, or they can be built on the personal property.
The real estate market is a market where a property can be bought and sold, either permanently attached or temporarily. Permanent attachment is when the property is bought and transferred from one person to another by a lease agreement. Temporary transfer is when the property is bought and then sold. Within the context of the real estate market, these can be divided into four categories of ownership, and these are: leasehold, ownership, tenancy-based and right-to-use.