Every single individual in the world is directly involved in real estate, whether they know it or not, so if you keep hearing, real estate, but don't know what it really is, keep reading.

When we talk about real estate what we basically mean is land. Land is the most basic form of real estate, without which there can be no real estate. In totality, Real Estate refers to land and every improvement or modification made on the land, such as buildings, structures, fixtures, utility systems roads, rivers, lakes, even resources found under the ground, and also the air and the sky above the ground.

Humans have different real estate needs and we use them in different ways, below other types of real estate and how they are used.

1. Land: Refers to the surface of the earth, it goes downward into the ground and upwards into the sky. Land is the most basic form of real estate land includes trees, water bodies natural mineral resources.

2. Residential Real Estate: This is the most common form of real estate because everybody needs a place to live. This takes different forms such as duplexes, bungalows, face-me-I-face-you, even people that live under the bridge are involved in residential real estate.
In Nigeria, many people own their own homes but the vast majority of people live in rented apartments and houses. Most residential real estate is occupied on the basis of rent. However, more and more Nigerians are either buying or making plans to buy their own homes.

3. Commercial Real Estate: This category refers to land and buildings used for busines purposes and activities. Examples are office buildings, hospitals, local markets, shopping malls, hotels, etc. In Nigeria, commercial real estate tends to be more expensive than residential because they are in higher demand and the competition to get the best commercial real estate property is quite high.
Most businesses want to be located in central locations with access to massive human traffic which is considered beneficial to business growth.

4. Industrial Real Estate: Closely related to commercial properties, Industrial Real Estate refers to properties used for manufacturing, factories, warehousing, storage, research, as well as goods distribution. In Nigeria, industrial properties can be quite expensive, however, in recent years, various tiers of government have subsidized the cost of industrial properties with the purpose of encouraging industrial activity in the bid to boost the GDP of the Nigerian economy.

5. Mixed Use Real Estate: Refers to property useful activities that cut across more than one real estate category. Some properties have an office building, factory and staff residential quarters on it. As a result, they cannot be boxed into one narrow category from the information above it is quite apparent that real estate is relatable, yet broad. Every single day, real estate transactions and interactions are ongoing as they fulfill fundamental human needs to just show the business places, amongst others.




Real estate encompasses every human activity. It is the basis on which every other human endeavour is executed.

Good morning Lalasticlala, this is a very informative thread that will be of benefit to nairalanders. Would be nice if you pushed it to frontpage. Thanks

Happy weekend everyone

Buying and selling a house on your own can be difficult. You should be able to go and find a house that you like and then buy it. But there are many nuances and obstacles in this case. For example, a customer wanted to buy a house near the beach from me, but was surprised when I told her that she needed flood insurance. Real estate agents in Houston Texas solved my question about selling a house. They did all the routine work for me.

Real estate is physical property that people own. It may be a house, an apartment building, an office building or a piece of land. People who have real estate almost always need to borrow money to buy it and they must make payments on the loan. But We Buy Houses New Orleans and help people to sell their houses fast. When you buy real estate and pay the loan off, the real estate company records that fact with your city or county government. The government keeps a record of this information in what is called the "land records" or "deed records."

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