New building developmentsThe real meaning of Real Estate
What do we talk about when we hear "Real Estate"? What is the real meaning of the phrase?
The English expression, which has become increasingly common, is composed of the adjective real (real estate) and the summer noun (property, heritage), but only partially corresponds to the meaning of our "real estate", in reference to the sector that is deals with this market. Because? Let's find out together.
By Real Estate we mean the real estate market, but more precisely the real estate system. Exactly, we talk in the specific system.
The real estate system consists not only of land and buildings (residential, commercial and industrial buildings), but also of the natural resources of the land (flora, fauna, agricultural crops, livestock, water and mineral deposits).
It is a term that defines and includes any commercial or private activity related to the real estate sector; refers both to the management and transaction activities that take place on certain properties, and to the related activities, such as: housing construction, construction, promotion, consulting, urban planning, architecture, administration ...
The Real Estate system is usually divided into three macro-areas based on the nature of the activities performed, the services offered and the operators involved.
Real Estate and its Macro areas
The first area is called Real Estate Development and concerns the initial phase of a real estate project; the second Real Estate Management which includes the set of real estate assets and finally the third and final category, Assest Management, which concerns the professional management of real estate assets.
On the "Italian Real Estate Manifesto" we read: "Real Estate is a complex and transversal area, made up of a group of companies and men (managers and professionals) whose skills embrace without any pretense of completeness - finance, administrative law and corporate, urban and architectural design, property promotion and management, marketing, technological innovations, human resource training, research and development.
Real Estate deals with the realization of all real estate assets that affect people's lives and therefore the proper development of their economic and social activities. "