There are three types of real estate:
1.Vacant land
It is a property land which has no buildings on it and is not being used.
2.Residential properties
It is a property land with buildings on it, which is used to or suitable for residential purposes. Common examples are apartments, penthouses, townhouses, etc.
3.Commercial properties
It generally refers to the property and land intended to generate a profit by capital gain or rental income. It can be empty land zoned for commercial use, or an existing business buildings.
The thresholds to purchase different types of properties may vary according to legislations, and such purchase may also attract different tax rates.