Let us debunk the general conception of real estate being all about houses. Because when we talk about Real Estate the first thing that comes to the mind of every individual are generally hoses in an in-built society. However real estate has much more to it than just the business of buying and selling rental property. Because the fact with real estate is vast and they include commercial stocks, private infrastructure and public infrastructure (schools, hospitals, roads, dams, bridges, airports and parks), places of work, commerce, worship, recreation, and physical environments as well as a wide range of business characteristics. In other words, we can say Real estate is property itself.
The general term of property means anything tangible asset that can be owned or possessed. However property (land, building or houses) can also include intangible assets (mortgage/lease agreements, financial claims, interests, patents, or trademarks etc).
The magnitude of Real Estate is what makes real estate the largest component of wealth in our world. Almost half of the World’s wealth consists of Real Estate. Hence, real Estate plays an important role in shaping the economic conditions of society (individuals, families, and firms). The Real Estate market, participants and its features make Real Estate’s assets unique and become a symbol of independence, stability and strength, which significantly affect the living standards of life.
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