Which Term Is Correct;
Real Estate Development or Property Development?
Real Estate Development Blog
Hello Mr. Dillon
You come across as an expert, so I hope you don't mind my troubling you with the following question, to which I can't find an answer. Is there any difference between the terms 'real estate' and 'property'?
Is it a matter of UK/US preference, or is there more to it, when companies decide to communicate they are in the business of 'real estate development' or 'property development'?
Thank you for your time,
From the desk of Colm Dillon ...
Author of "Residential Development Made Easy"
Colm here …
Thank you for asking me this question … the difference in the terms is very subtle.
They are both used across the industry and are interchangeable. Some countries prefer one as opposed to the other.
I prefer to use ‘property development’ because it is shorter than the other and it is used more often in Australia.
To be more definitive, I should say that real estate applies more specifically to land, which has dimensions and size.
I would regard ‘real estate development’ as being the subdivision of a large area of land into smaller lots.
I would regard ‘property development’ as being an area of land on which you intend to construct a building.
Hope this helps you … I love questions like this, because they go the foundation of our communication with one and other.
The real reason this struck a chord with me,
is because I have the same ‘type’ of question in relation to “COMPUTERS” and their associated products … these guys are all so EXPERT that they cannot speak the
language of the NORMAL person.
YEH, YOU'RE RIGHT, I NEVER GET THE SIMPLE
ANSWER I WANT.
All the best,
Residential Development Made Easy
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