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A residential property is any type of property used for habitation, or where people live. It can also be used to generate capital gains if the property is rented, making it also an investment.
Every valuable and immovable structure can be defined as real estate. Residential real estate is any type of structure in which people are supposed to live in, and it consists of one of the most profitable investments worldwide.
This is in contrast to commercial or industrial real estate, where the land and buildings are zoned for operating a business, such as a store, an office or a factory.
Purchasing residential real estate is often the largest and most important financial investment a person makes in their lifetime. Its value is determined by many factors, including size and location, and is subject to shifts in the market.
Extra reading:
https://www.masterclass.com/articles/residential-real-estate-guide
https://www.bankrate.com/real-estate/residential-real-estate-definition/
https://www.realtygroup.property/what-is-residential-real-estate
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