Types of real estate developments
If you believe you have the qualities to be a successful real estate developer, carefully consider the market conditions, your own business experience, and your financial resources before deciding on the type of development you want to pursue.
The following list is a brief description of the numerous types of real estate development projects:
Residential
The majority of property developers began their careers in the residential sector. It can be a single-family home (new or renovated for resale), a unit, a duplex, triplex, or quadruplex, as well as strata unit developments like townhouses, villas, and retirement villages.
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Apartments
Flats and condominiums are other names for apartments. This category includes anything from simple two-story flats to multi-storey mixed-use structures. Here is a beginner’s guide to Apartment development.
Offices
The size and quality of commercial office buildings might vary depending on the finishes ( which include wall and floor tiles, carpets and partitions). Renovated residences, strata-titled high-rise complexes, and low-rise commercial parks are all examples of commercial offices.
Retail
Small corner stores, strata-titled showrooms, neighbourhood shopping centres, community centres, and regional retail centres fall within the retail category.
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Industrial
Simple in design, industrial buildings provide big, open spaces for manufacturing or storage. Industrial developments can range from light industrial (including warehouses and small factories) to heavy industrial (generally planned away from residential areas). A petrochemical plant is an example of this type of development.
Land
A subdivision of raw agricultural land or a subdivision of an older property both falls under the land category. Changes in urban planning as a result of population growth create a demand for new land.
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Accommodation
Motels, hotels, and vacation apartments that cater to temporary accommodation are typically located near holiday resorts that cater to temporary lodging.
Recreational
Entertainment centres, casinos, golf courses, sports stadiums, and waterfront complexes fall under the recreational category. They can be stand-alone buildings or part of a mixed-use complex containing retail establishments.
Infrastructure development
This type of property development involves the construction of transportation and utility infrastructure such as roads, bridges, and water supply systems.
Master-planned communities
This type of property development involves the planning and development of large-scale communities, which often include a mix of residential, commercial, and public spaces.