|Part of the common law series|
|Estates in land|
|Future use control|
|Other common law areas|
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the many' business of real estate; the profession of buying, selling, or renting land, buildings or housing."
- 1 International real estate terminology and practice
- 2 Residential real estate
- 3 Market sector value
- 4 See also
- 5 References
- 6 External links
International real estate terminology and practice
Real estate as “real property” in the U. K.
In British usage, "real property", often shortened to just "property", generally refers to land and fixtures, while the term "real estate" is used mostly in the context of probate law, and means all interests in land held by a deceased person at death, excluding interests in money arising under a trust for sale of or charged on land.
Real estate in Mexico and Central America
|This section does not cite any references or sources. (September 2009)|
||This section may not provide balanced geographical coverage on the region in question. (December 2011)||
Some similarities include legal formalities (with professionals such as real estate agents generally employed to assist the buyer); taxes need to be paid (but typically less than those in U.S.); legal paperwork will ensure title; and a neutral party such as a title company will handle documentation and money to make the smooth exchange between the parties. Increasingly, U.S. title companies are doing work for U.S. buyers in Mexico and Central America.
Prices are often much lower than prices in countries such as the U.S., but in many locations, such as Mexico City, prices of houses and lots are as expensive as houses and lots in countries such as the U.S. U.S. banks have begun to give home loans for properties in Mexico, but, so far, not for other Latin American countries.
In Mexico, foreigners cannot buy land or homes within 50 km (31 mi) of the coast or 100 km (62 mi) from a border unless they hold title in a Mexican Corporation or a Fideicomiso (a Mexican trust).
In Honduras, Central America, foreigners may purchase beach front property directly in their name. A foreigner may purchase up to 3000 square meters (.74 acres) of land or less, but any additional acreage must be purchased through a Honduran corporation. This corporation is then set up with the foreigner as the ‘Administrator’. There are different rules regarding certain types of property: ejidal land — communally held farm property — can be sold only after a lengthy entitlement process, but that does not prevent them from being offered for sale.
Real estate agents in Costa Rica currently do not need a license to operate, but the transfer of property requires a lawyer. CCCBR (Camara Costarricense de Corredores de Bienes Raices) is the only official body that represents the Real Estate industry to the government. The Costa Rica MLS is the official MLS of the Costa Rica Chamber of Real Estate Brokers Board. The Chamber institutes the rules, regulations and ethical guide for officially licensed brokers in Costa Rica.
In Mexico, real estate agents do not need a license to operate, but the transfer of property requires a notary public.
Real estate in Thailand
In Thailand it is possible for a foreigner to own a condominium freehold provided ownership does not exceed 49% of the total building; it is not easily possible for a foreigner to own land but normal practice is that investment property can be purchased then Land acquired under a 30 year lease option; Until recently it was considered by most legal advisors that the ownership of land by a foreigner through a Thai Limited Company was acceptable, although the Law clearly states that foreigners cannot own land in Thailand. The Government has now made clear that such ownership may be illegal. The legitimacy of such ownership depends on the status of the Thai Shareholders who must be shown to be active and financially participating shareholders.
Real estate in egypt
Egypt on because best spot regarding real-estate purchasing Middle East along with To the north Cameras
Egypt is actually one of several best spots regarding purchasing real-estate in the centre East along with To the north Cameras place, only guiding Saudi Persia, it's advertised. The item ranks number 2 guiding Saudi regarding individual self-assurance, as outlined by some sort of study involving people in the region, exposed Blair Hagkull, MENA chairman involving Jones Lang LaSalle.
Khaled Sekry, primary running officer regarding The company Slopes Trends, predetermined that this local real-estate centre is actually getting off Dubai in order to Egypt and can proceed to take action for your future three years.
The actual country’s efficiency from the field is often an expression of any upturn throughout task together with Middle Western people doubling their opportunities from the 1st 1 / 2 2010 within the previous 12 months, creating these individuals, again, your second greatest inter-regional buyers.
Ayman Ismail, chairman from the Dal Ing Mimar Team defined Egypt’s real-estate field because obtaining ‘robust’ principles along with mentioned in which outlying migration when it comes to even bigger metropolitan areas, such as, Cairo, has been recently some sort of traveling push.
Furthermore, you'll find six-hundred, 000 marriages a year throughout Egypt, which often, in theory, could result in the same amount of couples hunting to generate a real estate invest in, as outlined by Ismail.
Yet another inducement for many people people to look at Egypt will be the affordability involving home living space. Ismail argued in which Michael Jordan gives double Egypt’s cost along with Dubai gives some in order to all 5 times all the.
Sekry added in which intercontinental investors’ prejudice from the opportunities being seized when throughout Egypt is often a main barrier when it comes to creating the complete likely from the field.
Hesham Shoukri, ceo along with account manager us president involving Rooya Team, mentioned in which people ended up focusing on Western The European countries where yields are generally involving 5 along with 6% while these are as tall as 12 in order to 15% throughout Egypt.
The industry feels in which real-estate investigation firms, including Jones Lang LaSalle, do not present sufficient insurance policy coverage from the Egyptian market but that's today modifying.
Ismail feels in which some important regions need to be addressed for your nearby real-estate field to increase its gains; trust amongst nearby along with intercontinental buyers which often ended up ruined because of instants involving not respecting contract phrases; encouraging unusual people in which are willing to spend money on commercial infrastructure; supplying that's cost-effective; along with supplying much more consistent information.
The actual Egyptian authorities is actually relocating in direction of adding area some sort of see-through real-estate sign up system. related topics the real estate market in egypt real estate real estate markets real estate market real estate market1
In the Philippines, real estate is an area for growth. Aside from the development of high rise buildings in the Greater Manila area, nearby provinces are now seeing much land development with its continuous expansion for horizontal development projects in the nearby provinces such as Laguna, Cavite, Rizal, Bulacan, Pampanga and Batangas.
The major expansion in vertical real estate development outside Metro Manila south of the metropolis, Cebu and Iloilo in the Visayas, Cagayan de Oro and Davao in Mindanao, where medium‑to‑high rise buildings are beginning to appear.
Foreigners are generally not allowed to hold more than a 40% interest in any land, although there is an exemption for pensioners who deposit more than US$50,000 in a specified account. Philippine rules distinguish between a house and the land it sits on.
Residential real estate
The legal arrangement for the right to occupy a dwelling in some countries is known as the housing tenure. Types of housing tenure include owner occupancy, tenancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, squatting, and cohousing. The occupants of a residence constitute a household.
Residences can be classified by, if, and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.
- Major categories in North America and Europe
- Attached / multi-unit dwellings
- Apartment – An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.
- Multi-family house – Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.
- Terraced house (a. k. a. townhouse or rowhouse) – A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space.
- Condominium – Building or complex, similar to apartments, owned by individuals. Common grounds and common areas within the complex are owned and shared jointly. There are townhouse or rowhouse style condominiums as well.
- Cooperative (a. k. a. co-op) – A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit.
- Semi-detached dwellings (in UK, a “semi” is by definition two units with a party wall).
- Duplex – Two units with one shared wall. (in UK, a duplex is an apartment on more than one storey)
- Single-family detached home
- Portable dwellings
The size of an apartment or house can be described in square feet or meters. In the United States, this includes the area of “living space”, excluding the garage and other non-living spaces. The “square meters” figure of a house in Europe may report the total area of the walls enclosing the home, thus including any attached garage and non-living spaces, which makes it important to inquire what kind of surface definition has been used.
It can be described more roughly by the number of rooms. A studio apartment has a single bedroom with no living room (possibly a separate kitchen). A one-bedroom apartment has a living or dining room separate from the bedroom. Two bedroom, three bedroom, and larger units are common. (A bedroom is defined as a room with a closet for clothes storage.)
- Major categories in India and the Asian Subcontinent
- Co-operative Housing Societies (CHS)
- Builder flats
- Independent Floors
- Lal Dora – Where people carry out commercial and residential activities both.
The size is measured in Gaz (square yards), Quila, Marla, Beegha, and acre.
Market sector value
|This section needs additional citations for verification. (September 2009)|
|This section's factual accuracy may be compromised due to out-of-date information. (March 2013)|
- Residential property: $48 trillion;
- Commercial property: $14 trillion;
- Stock: $20 trillion;
- Government bonds: $20 trillion;
- Corporate bonds: $13 trillion;
- Total: $115 trillion.
That makes real estate assets 54% and financial assets 46% of total stocks, bonds, and real estate assets. Assets not counted here are bank deposits, insurance “reserve” assets, natural resources, and human assets. It is not clear if all debt and equity investments are counted in the categories equities and bond.
- "Real estate": Oxford English Dictionary online: Retrieved September 18, 2011
- Oxford Dictionary of Law (4th edition), New York: Oxford University Press, 1997; See also Estate in land
- Mexico and Direct Foreign Ownership of Coastal Property, MexiData.info (April 12, 2010) http://www.mexidata.info/id2615.html
- Mexican Consulate http://portal.sre.gob.mx/was_eng/index.php?option=displaypage&Itemid=52&op=page&SubMenu=
- A foreign buyer however can own a condominium unit thru trust agreement with the developer. In a trust agreement, a buyer buys the unit then allows the developer to manage the property in behalf of the owner. The owner has the option to live in the unit, let, or lease out the property to prospective end-users. The developer retains retainer for the management and leasing services while rental is deposited to the account of foreign owner and also direct investment is allowed. Dave (11 January 2009). "Foreign Ownership of Land in the Philippines". BC Philippines Lawyers. Retrieved 25 March 2013.
- The dictionary definition of real estate at Wiktionary