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Real Estate 101

Real estate is among the most lucrative industries and is ranked as the world's most important asset class. At the end of 2016, it was estimated to be worth around $228 trillion.

What is Real Estate?

Real estate refers to property that consists of land and all the buildings erected on the land. Besides the land and buildings, real estate also encompasses natural resources, for example, minerals, water resources, crops, etc.

Types of Real Estate

Now, there are different types of real estate, classified depending on the purpose. There is residential real estate, and as the name suggests, this refers to resources meant for residential purposes. Another popular type of real estate is commercial, which relates to resources meant for commercial purposes, such as office blocks. The third type is industrial real estate. This consists of large scale manufacturing buildings and property, for example, warehouses. The last type is land, and this constitutes undeveloped land and working farms and ranches.

Real Estate Industry and Market Trends

Like mentioned earlier, real estate is the world's most important asset class. The industry has witnessed steady growth in the last decade, and the trend is on an upwards trajectory.
From a career perspective, women occupy the largest share of career opportunities in real estate. On the other hand, online marketing is the most effective advertising channel. At the same time, innovations such as drone photography are now being exploited.

This website will come in handy to know more about real estate and how the industry is taking shape.