Profiling Buyers Of Real Estate: Which One Are You? (Infographic)

Real estate is one of the strongest businesses out there. More and more people have been investing in the business of real estate while others are buying for their own and living on the property. Real estate can be divided into three types; residential, industrial, and commercial.

Residential real estate consists of underdeveloped land, houses, condominium units, townhouses, mansions, and other properties where people reside and live.

Meanwhile, industrial real estate includes factories, business parks, mines, farms, and involves mass production. Industrial real estate usually involves a bigger parcel of land,

Commercial real estate, on the other hand, is spaces intended for office space, warehouse, and retail buildings. They are intended for business purposes. Great examples of these are mall space and commercial complex spaces.

Real estate is a multi-trillion business. Real estate website Zillow estimated that all the houses in the United States are valued $33.3 trillion. This is 71% higher than the country’s Gross Domestic Product which is only $19.4 trillion at that time.

Unlike other investments, real estate prices vary from location to location depending on the number of undeveloped real estate land in the area and its purpose. A land in Metro Manila is approximately more expensive than ones on provinces due to the limited number of land in the area and the cost of living in the area itself.

The local economy, employment rate, crime rate, municipal services, quality of schools, and property taxes all affect in the price of an area per square meter.

Some people are profiting from real estate, and some are buying real estate properties for different reasons. If you are a real estate buyer, or most especially a seller, you should take note of the kind of people who are buying or selling real estate from you.

There are types of real estate buyers out there and if you haven’t known them yet, better check this infographic from Premium Properties PH.