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THE MILLENNIUM GROUP OF COMPANIES

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Four types of Real Estate and their Benefits

Real estate is undoubtedly the best form of investment. It can be simply land, or a structure built on it e.g. a house of 6 bedrooms. This form of investment is one of the most ancient and diversified industry in the world. Due to being quite diverse and variable, it puts even the most experienced investors in confusion as to whether which form of real estate shall they invest in. The Millennium Builders is a top tier real estate agency that is focused on providing the best advice to prospective investors. They have laid down the following explanations of all types of real estate so that the readers can find guidance on which kind of investment suits them best.
Investment in real estate can also feel quite overwhelming, due to the fact that there are numerous options available all the time, and people wish the best for themselves – which is fine, and we got you covered! If you’re getting started, or looking for a new hotspot for investment, it would be helpful for you to go through 4 types of real estate and understand their importance.

Residential
The residential market in Pakistan is colossal. When you consider different kinds of options for investment in residential properties, you should also consider the kinds of residential properties you would have the option to invest in:
– Villas
– Apartments

Commercial
The market of commercial property has great demand. People settle offices, shops, restaurants, hospitality property etc. in such kind of real estate. People are expanding businesses and along with their growth, they also tend to create geographical presence of their brands. Commercial properties in the right localities can be highly beneficial. The most sought after places for such properties is where the owners can create their own monopoly and be the only service providers in the immediate location.

Industrial
Although this kind of real estate also falls in business and commercial purposes, there is still a difference between industrial and commercial property. There is a specific way this kind of real estate is used, usually for industrial

scale production:
– For manufacturing purposes
– Storage facilities – like for freezing, or gas storage
– Research and development parks
– Telecom companies

Raw Land
In metropolitan regions, vacant or raw property is purchased for future development as well as
natural resource rights such as mineral, water, and air rights. When compared to developed
properties with buildings and tenants, investing in land is a preferred long-term option because
taxes and maintenance costs are typically quite low. Raw land includes:
– Undeveloped raw land
– Farms

– Orchards
– Planned urban development
How does the real estate market function in Pakistan?
In the real estate sector, there are six key areas that all interact with one another:
– Developers that buy raw land, develop new structures, and then resell or lease the finished
product to end users or renters.
– Firms specializing in the sale of newly constructed real estate projects.
– Licensed agents and unlicensed assistants work for real estate brokerage firms, assisting
investors and homeowners with the purchase, sale, and rental of various sorts of real estate.
– Property management businesses are in charge of the day-to-day operations of rental
properties, such as rent collection, coordinating repairs with vendors, and managing
tenants.
– Real estate lenders include institutions like local credit unions and community banks, as well
as large national banks and mortgage brokers who assist property owners in finding the best
lending options available.
– Accountants and financial planners, attorneys, title firms and escrow officers, as well as
handymen and general contractors, are all professional real estate service providers.

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