The Roles of Real Estate in An Economy.
Several factors which have led to the development of the real estate are enjoyed in an economy. Real estate can be referred to as the act of building estates which are mainly for living purposes. Most areas have grown this industry of real estate. The economy has been able to develop due to the presence of the real estate industry. The real estate has been invested by most people as they put their finance to these industries. In most countries the first growing industry is the real estate.
The real estate play several roles. Infrastructure improvement is actually one of the roles. So the owner will automatically construct houses with developed road in it as real estate is much focused on the development. There will be improvement of the infrastructure since there will be improvement and construction of new constructions of the roads. Most of the people have considered this beneficial to the economy. So as to cater for services required there will be constructions of the schools and the medical institutions.
Another role of the real estate is the increase in the country’s revenue. country has some of its share and real estate is in most cases considered a business activity hence a country will be benefiting in terms if the tax charged to the owners as before the construction the land before sale is taxed. The charged or the taxed amount is in form of the revenue hence the country can be able to develop itself from the revenue they earn from these industries.
Job creation is also another added role of the real estate in the economy. After the construction activities are done most people will be able to find job opportunities in these places. Most people will automatically … Read More..