Types of Real Estate Properties: An Overview

The real estate property market is one of the biggest industries globally, branching out through different industries like insurance, construction, finance, and even in terms of securities – which are all contributing to a country’s economic health.

But before we talk deeper into the real estate market, knowing a bit of the basic types of properties involved in the market is must – which is an essential knowledge when getting a real estate license. And since it is all about “realty properties”, let us define and get a general breakdown of the major types of real estate properties and its scope.


1.    Vacant Land – The perfect example for vacant land are ranches and huge farming lands. In most cases, these vacant lands are very vast, that its value and price is considerably high, with commissions high as well when agents are involved. Vacant land are not necessarily “vacant” or only pertaining to farm or ranches, but to a huge property land that is not yet fully developed for both residential or commercial property types. Though the opportunities in this type of property are quite small, the benefits are large and most agents who have focused in this kind of properties are quite successful in this area of property business. It may also include lot spaces with no current development or any building structures in the area, etc.

2.   Residential Properties - are the most common type of property in the realty market. Residential property includes the following sub-types:   

a.    Single Family Residence Property
b.    Duplex Property
c.    Condominiums
d.    Town Houses
e.    Manufactured Home Property
f.    Multi-Family Housing Property
g.    Retail Space
h.    Office Building and Complexes
i.    Loft Property
j.    Rooming House
k.    Mixed-Use Properties
l.    HealthCare Properties
m.    Restaurant Properties
n.    Industrial Properties

There are actually a lot of types under residential properties, and all of them have their own specific use and structures.

3.   Commercial Properties – is a type of property only for commercial use. It can also be determined under residential properties but since this kind of property only focuses on commercial lots of buildings in most cases, it was then considered as a separate type of property. What makes it different with residential properties is that it requires more complex processes and evaluation of the property – from the potential of the property to drive income for what will it be used to in terms of commercial purposes, and other business related aspects that the property will contribute into for the existing or new business.