What are the types of real estate properties

1. What are the types of real estate properties? Investopedia defines real estate as “land along with any permanent improvements attached to the land, whether natural or man-made—including water, trees, minerals, buildings, homes, fences, and bridges”. The land is simply the earth's surface but when man-made additions are added, it becomes real estate. Commonly, people refer to assets such as furniture, jewelry et cetera as property but actually, only real estate is the real form of the property. Real Estate Categories Generally, there are 5 categories in which real estate is classified: 1. Residential real estate 2. Commercial real estate 3. Industrial real estate 4. Land 5. And properties for other purposes Real Estate Properties Type in Pakistan There are six categories of real estate properties found in Pakistan 1. Agricultural properties 2. Residential properties 3. Commercial properties 4. Industrial properties 5. Mixed-Use properties 6. Special Purpose and State Owned properties 1. Agricultural properties These properties are the backbone of Pakistan’s economy. The official stats released by the Government of Pakistan states that almost 60 to 70% of the population's livelihood is directly dependent upon agricultural lands and agriculture. If we see these properties from a real-estate perspective, for wise investors, agricultural properties are much more than pieces of land to grow crops. In fact, these are the extensions of commercial properties. There are further sub-categories of agricultural properties including cultivation farms, ranches, farms, and orchards. 2. Residential Properties To build or to own a house is the dream of every person. For some people, it is the biggest and sometimes the only investment of their lives, so this type of real estate is without any exaggeration the most important type of real estate in Pakistan. These properties provide residence to people; as obvious by the name. If you are looking for residential plots in the best areas, Capital Smart City Islamabad and

2. Nova City Islamabad are offering some stellar deals and investment opportunities. For any queries such as Capital Smart City NOC or Nova City payment plan, we offer free consultations at Deal and Deals. Sub categories of residential properties include apartments buildings, residential areas in housing societies, farm houses, duplex, mobile homes, condominiums, vacation homes, and homes. 3. Commercial Properties This type of real estate is restricted to commercial purposes. These are also as important as residential and commercial properties in Pakistan. As these properties are associated with business purposes, these are generally more expensive than any other sort of property. Commercial properties include business hubs, shops, retail spaces, theatres, offices, plazas, hotels/restaurants, resorts, parking facilities, recreational facilities, departmental areas, and a lot more. Commercial plots are open for booking in Capital Smart City Islamabad and Nova City Islamabad. 4. Industrial properties These properties can generally fall into the category of commercial, but considering the operations involved, these properties are somewhat different. Industrial properties can be both land and building. These properties are usually far away from residential areas and feature manufacturing setups with heavy equipment and machinery. Common types of such properties are warehouses, factories, power plants, manufacturing units, data server centers, research & development parks, large-scale processing centers, etc. 5. Mixed use properties These are properties that serve multiple purposes at once. Commonly in Pakistan, these are Plazas that offer both residential facilities and also offer commercial space to shops/outlets. These properties are pretty common in Pakistan i.e. in Islamabad you can commonly find buildings in which the ground floor and basements are commercial and all other floors feature apartments or flats. This type of property is also referred to as “purpose-built” property. 6. Special purpose properties Last but not the least, comes the special purpose properties. These properties are usually government owned and built for some specific purpose. These properties include public parks, public hospitals, governmental institutes, national secretariat, courts, buildings from where law and maintenance entities operate, living facilities, shelter houses, worship places, etc. Bottom line Each type of property influences the economy of a nation. In this blog, we just discussed the general categories of properties in Pakistan. When one also considers the sub-categories of these 6 main categories, there are literally dozens of types of properties.