The real estate industry is a critical driver of economic growth no matter where you are. By definition, real estate is the property, land, buildings, air rights above the land, and underground rights below the land. Real estate ownership is directly correlated to wealth. Real estate owners enjoy a higher net worth than those who don’t own real estate.
There are four types of real estate that can be bought and purchased: residential, commercial, and industrial real estate, as well as land. While each type of real estate is zoned for specific use, all four are valuable and prove to be great investments, especially over time. The more buying and selling of real estate that takes place, the more driven is the economic growth of a country or even specific area. In addition to the purchase of lots and pre-existing structures, the real estate industry also includes the construction of new buildings and homes.