Real estate and property

Real estate is a property that has land and other improvements like structures, roads, buildings, utility systems and fixtures (Bla Bolig). It can also be defined as a physical land, structures and resources that are attached to it.

Real property

It is defined as the land itself and any buildings attached to it.



Differences

Real estate consists of physical objects only

Real property consists of both common law rights and physical objects

Types of real estate

Industrial real estate

It consists of properties, warehouses and manufacturing buildings (https://blabolig.no/ferdighus/funkis/). The buildings are used for so many things like storage, production, distribution of goods and even research. Buildings that distribute goods are known as commercial real estate.

Residential real estate

This includes resale homes and new construction, single-family homes is the common category here. There are also quadplexes, condos, high value homes, townhomes, vacation homes and duplexes.

Land

It includes working farms, ranches and vacant land. The vacant land has the following categories site assembly, undeveloped, subdivision and reuse.

Commercial real estate

Commercial real estate has offices, hotels, shopping centers, educational buildings, medical and strip malls. Apartment buildings are commercial real estates because they are owned to provide money.



Types of real property

Residential

A home is another type of property and in this case, residential addresses single family housing and multifamily housing in rural, urban and sub urban areas (https://blabolig.no/ferdighus/tradisjonell/). People, who tend to buy real estate property, should do it through residential category.

Agricultural

Is another type of real estate property that uses the land to produce crops, plants and raise animals. The produced goods become beneficial to the real estate investments.

Commercial property

This is a type of property that consist business activity for example stores, office spaces, entertainment facilities, shopping centers and malls. It also has motels, hotels and parking facilities.

Some other types of real properties are industrial, mixed-use properties and special purpose properties.