Real estate is one of the best options for investment and they include activities ranging from the renovation of buildings to sales or purchase of an existing building or land. There are various types of real estate that includes:
– Residential real estate investments
– Commercial real estate investments
– Industrial real estate investments
– Retail real estate investments
These real estate investments can provide a steady income to the property owners in various ways, and they are mentioned below.
Residential Real Estate Investments
Residential real estate properties include separate homes, duplexes, high-value homes, vacation homes and much more. Here the family or a person will pay you to live in your property. They will stay in your property based upon the rental agreement you made with them and most home owners prepare rental agreements for one year. If you are moving to your new home or vacating to a new location due to your job or various reasons, then you can give your old home for rental. This will help you get a monthly income through the home rent.
Commercial Real Estate Investments
Commercial real estate properties include empty land, office buildings, skyscrapers, educational buildings, shopping malls, hotels, etc. If you have a property that you won’t use for residential or any other purpose, then constructing a small building with few individual offices could help you gain a monthly income through rent. Even though apartment buildings are used for residential purposes, they are considered as commercial buildings since they are owned to create income. Also, when it comes to apartment buildings, sellers and buyers use various methods of valuation, and they are handled differently compared to the normal residence.
Industrial Real Estate Investments
Industrial real estate properties include warehouses, manufacturing buildings, etc. and these buildings can be used for research, production, distribution, and storage of various goods. The buildings from where the goods are distributed are considered as commercial real estate. These buildings require only smaller average investments and less operating cost compared to commercial and retail real estate. When it comes to industrial property, a few important factors the tenants will consider includes building configuration, location near to major transport routes, functionality, the degree of specialization in the space, etc.
Retail real estate investments
Retail real estate property includes strip malls, large shopping malls, retail storefronts, etc. In some cases, in addition to rent, the property owners will receive a certain percentage to incentivize them to maintain the building or property in an excellent condition.
The author is an experienced commercial real estate consultant in Yangon who specializes in offering timely and professional real estate services. For more details, visit http://sps-myanmar.com