What is real estate? Some terms about real estate
It can be said that in the past few years, the real estate market in Vietnam has had an amazing growth rate. Therefore, it is not difficult to find relevant information about this field in newspapers, social networking sites or television media. But not everyone knows what real estate is? Some real estate terms, let’s learn the article below.
- What is real estate?
Real estate is a legal term and has been used quite widely ever since. When talking about real estate, it means including all land and what has an inseparable relationship with land. Therefore, what real estate is, you can also understand it as a house, a building inside or something below the ground such as oil, minerals, ….
Types of real estate do not include things that can be separated from the land such as huts, temporary houses.
Each country has a different definition of real estate. This depends on the laws of that country. In Vietnam, the 2005 Civil Code stipulates: “… Real estate includes: Land; Houses and constructions attached to land, including properties attached to houses and works. such construction; Other properties attached to the land; Other properties prescribed by law. . . . ”
- What is real estate business?
According to Article 3 of the Law on Real Estate Business, real estate is understood as spending a dollar of capital to carry out activities of buying, selling, mortgaging, lending, providing advertising, marketing and brokerage services. real estate transactions. Transaction. All activities of a real estate business must aim at profit.
- Real estate investment
Real estate investment is understood as the fact that some people with good economic potential and money will participate in projects to conduct transactions of buying, renting or transferring apartments. The purpose of investing in real estate is basically for the purpose of making a profit and making a profit.
- Basic characteristics of real estate
In addition to understanding the concept, you also know the basic characteristics of real estate. Because just understanding the nature you will easily grasp to make the right investment decisions. So if you want to know what the basic characteristics of real estate are, the following will be the answer.
Unique and scarce
One of the outstanding features of land that you can easily see is its unique and scarce nature. The speciality of real estate is clearly shown in the fact that the land has limitations in terms of area, size, population, etc. .. The scarcity of land is what makes it special. The reason real estate possesses the above characteristics is because real estate is a fixed asset, difficult to move and they become a commodity with a special nature.
When participating in the evaluation of a real estate, individuality is always something that many investors are interested in. Individuality makes real estate different and investors must understand that to be able to make accurate investment decisions.
Sustainability
Real estate is the “wonderful gift” that nature bestows. This is a priceless asset that no one can destroy. And what people build on the land is a way to improve and increase the value of a real estate. Each construction on land can last for tens or hundreds of years. Thus, sustainability is one of the outstanding advantages of real estate.
Mutual impact
The final feature of real estate is that it interacts. Or more specifically, real estate is influenced by each other quite a lot. The value of one property will also affect the value of the other. In case the state invests and builds many infrastructure works, it will increase the beauty and improve the efficiency of use of real estate in the vicinity. In fact, the construction of infrastructure has added to the beauty and attractiveness of real estate. This is also the mutual impact of real estate, and is a common phenomenon of the real estate market in Vietnam and the world.
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