Functions of The 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 termed as the act of building estates which are mainly for living purposes. In most developed areas the real estate’s industry has really developed. Due to the presence of these industry the economic has really developed. The real estate has been invested by most people as they put their finance to these industries. Real estate in most countries is considered the first growing industry.
There are roles which these industries actually play in the economy. 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. This ensures that there is development of the infrastructure since there will be improvement in the roads system. It has been considered beneficial by most people to the economy. There will be progression upon construction of the real estate as the medical and institutions will be built to cater for the services.
Increase in the country’s revenue is actually another role. Before the construction activities when the land is purchased probably the 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. 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 actually another added role to the economy. When the constructions are actually done most people will be able to find job opportunities in these places. These arises in that the owner … Read More..