What is Residential Property?
Residential property refers to real estate designed for individuals or families to live in, serving as private living spaces rather than for commercial or industrial purposes. These properties include various types, such as single-family homes, apartments, condominiums, townhouses, and duplexes. Residential properties are typically bought, sold, or rented to meet personal housing needs. They are valued based on factors like location, size, design, and amenities, as well as proximity to schools, parks, and other essential services. Residential properties play a key role in providing shelter and are often considered a vital investment for individuals and families seeking stability and growth.