Real estate is defined land and anything fixed, immovable, or permanently attached to it such as appurtenances, buildings, fences, fixtures, improvements, roads, sewers, structures, utility systems, and walls. Title to real estate normally includes title to air rights, mineral rights, and surface rights which can be bought, leased, sold, or transferred together or separately.
There are various types of real estate in the world and These are the four types of real estate in Ethiopia:
Residential Real Estate
Residential real estate includes both new construction and resale homes. The most common category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, Quadplexes, high-value homes and vacation homes. Residential real estate is further divided. Such as:
Single-Family Real Estate
A single-family home is a standalone house built for one family. Single-family homes offer more privacy and space than other types of Homes. This type of house is the most common in Ethiopia
Multi-Family Real Estate
A multi-family home is a structure that includes more than one collection of living spaces with separate entrances. Multi-family homes are the least common type of residential building in Ethiopia.
Condominiums
Condominium is a complex having a number of residences in a building or group of buildings on a single plot which share the common areas for every dweller. Ethiopia is known for Government built condominiums which are now homes of thousands of people.
Apartment/Flat
An apartment is a set of rooms for living in a private residence in a building or that’s divided into several separate dwellings usually on one floor of a large building.
Metropolitan has built a great apartment for sale in Addis Ababa around Total “Sost Kutr” Mazoria, a developed neighborhood which is in 1 Km radius to main roads, schools, hospital and many more services.
Commercial Real Estate
Commercial real estate includes shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, even though they are used for residences. That’s because they are owned to produce income.
Industrial Real Estate
Industrial real estate includes manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage, and distribution of goods. Some buildings that distribute goods are considered commercial real estate. The classification is important because the zoning, construction, and sales are handled differently.
Land
Land includes vacant land, working farms, and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly.
Metropolitan is a real estate developer involved in both residential and commercial real estate development
Metropolitan real estate PLC, is an American company, building quality homes in Ethiopia to fulfill the needs of luxury real estate for sale and rent in Addis Ababa and all of Ethiopia as well
