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Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
For example, assume that "House B" has a value as a house of $200,000, and a site value as a commercial lot of $250,000 with a cost to demolish the house and prepare the site at $25,000. The highest and best use of the site is to demolish the house and sell the site as a commercial lot.
For example, room 215 could be the 15th room of floor 2 (or 5th room of floor 21), but to avoid this confusion one dot is sometimes used to separate the floor from the room (2.15 refers to 2nd floor, 15th room and 21.5 refers to 21st floor, 5th room) or a leading zero is placed before a single-digit room number (i.e. the 5th room of floor 21 ...
Hong Kong law Chapter 123F, Building (Planning) Regulations, Regulation 23 sect 3 sub-paragraph (a) defined that: Subject to sub-paragraph (b), for the purposes of regulations 19, 20, 21 and 22, the gross floor area of a building shall be the area contained within the external walls of the building measured at each floor level (including any floor below the level of the ground), together with ...
The first recorded example of 5-over-1 construction is an affordable housing apartment building in Los Angeles built in 1996. [7] The wood-framed 5-over-1 style is popular due to its high density and relatively lower construction costs compared to steel and concrete.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
Aerial view of housing developments near Markham, Ontario, Canada. Tract housing, sometimes informally known as cookie cutter housing, is a type of housing development in which multiple similar houses are built on a tract (area) of land that is subdivided into smaller lots.
In US usage, a loft is an upper room or storey in a building, mainly in a barn, directly under the roof, used for storage (as in most private houses).In this sense it is roughly synonymous with attic, the major difference being that an attic typically constitutes an entire floor of the building, while a loft covers only a few rooms, leaving one or more sides open to the lower floor.