The real estate sector is a formidable generator of jobs. Far from representing only the “real estate agencies,” the real estate industry brings together a multitude of trades and activities which represent a very significant weight in the economy.
Real estate itself is the market in which sales, purchases, and leases of goods and buildings are carried out.
“Building” means any object that cannot be moved, such as houses, buildings, or land, as well as objects that are an integral part of a building, such as a heater or a fireplace.
The real estate is intended for different uses depending on the need of the buyer. From the utility lens, we can distinguish two categories of real estate: corporate real estate and private real estate.
Business real estate
Commercial real estate concerns both the sale, the purchase, and the rental of buildings intended for professionals such as warehouses, parking lots, factories, logistics spaces, offices, or production areas. Commercial property yields are often more attractive than residential property.
This category of real estate, also known as residential real estate, refers to the type of building used for non-commercial use. It generally concerns premises intended for the accommodation of one or more persons who may be owners, tenants, or occupants free of charge.
Residential real estate has a broader target as it affects all households. This sector shows strong demand, which benefits investors in particular and the sector in general.
The rise of facility management
Facility Management is a mode of organization and management consisting of delegating under one responsibility the technical and general services of a building complex.
This management system allows owners and managers of real estate to maintain and enhance their property and companies to relieve them of problems that are not part of their job such as electricity, security, safety, l hygiene, welcome.
The importance of these services in the use of buildings makes the Facility Manager an essential pillar of the real estate sector.
There are different types of real estate
Properties by nature:
Those inherent to the soil (land, solar, etc.).
Properties by incorporation:
Buildings under construction.
Goods by destination:
Movable goods that come with and favor a good (agricultural or mining equipment).
Properties by analogy:
They are called mortgage concessions.
Goods by accession:
Elements that are part of the good but which in themselves are furniture. For example, doors and windows. In the factory, it is furniture but installed in a house; they become real estate.
Properties by representation:
Documents granting ownership. For example, writing a house to its owner.
Several taxes apply to real estate.
• Such as taxes that levy property and are set according to the cadastral value or income taxes.
• Property tax is a tax that must be paid on a mandatory basis each time a property is acquired.
• It is valued around the value of said goods and gives the buyer the legal and real property rights of the product.
• This tax must be paid in the municipality which collects it.
• It is managed to take into account the information cited in the cadaster and the state documents of the property.
They are reviewed annually to update the transactions made around the properties registered there. This register remains in the corresponding municipality and records all the properties that are within its authority.
The other taxes that can be imposed on real estate are the tax on the increase in the value of urban land. In this case, if the value of the land increases, the value of the property also increases and, therefore, the tax payable for it.