Real estate industry is one of the sectors that not only contribute to the GDP of a country but also improves the livings standards of the citizens.
Here is some of the positives impacts of real estate business in the society,
Improving the living condition of the people
Real estate has helped improve the state of living around the world. Apart from its numerous benefits from a steady flow of income to securing the future of investors and that of their families, it has helped eradicate slums in most of the countries around the world.
In Kenya for example people half of the kibra slums have been replaced with permanent housing. This has helped improve the lives of hundreds of people who initially never had a sense of belonging. When living condition of people is improved, a lot of calamities are avoidable.
Providing a sense of security
Most real estate properties provide security to tenants living in the property. Real estate properties like residential estate, most of which have steel doors that are hard to break into and also the main gate to the property where only tenants are allowed in and trusted people.
People who stay in ghettos are prone to insecurity issues but real estate is at the front line to curb this issue. Feeling secure is very important because it gives peace of mind and focusing on other issues will be much easier.
Sufficient spacing
Although some of the properties in real estate may not have large space as required, it is far much better than temporary housing. There is a sense of ownership when renting a property. The little available space can be fixed to fit the purpose.
Spacing is important for children during recreation and playing. Enough spacing avoids congestion. It allows people to have their privacy and even during break out of communicable diseases it would be easier to curb the disease unlike when people are congested.
The world has been facing a pandemic and people are urged to avoid overcrowded places, people who live in real estate properties are much safer because they have their own space.
Waste management.
Real estate properties ensure good living conditions through proper management of waste. wet waste is channeled to sewer tanks where they are composted by the composing machine and used in gardens or sold in the market.
Dry wets are collected by garbage trucks and can be recycled or disposed of properly. This reduces a lot of diseases and infections. It creates a conducive environment for living.
Job opportunities.
Real estate companies have provided job opportunities to youths in the communities. During construction, labor services are required and this creates jobs for them.
This has helped reduce many youths involving themselves in drug abuse, stealing and other illegal activities and instead help them provide for their families, and better they become responsible people.
Economy
This is one of the major sectors that has helped boost the economy of its country or its state. It has played an integral role in many countries by providing housing for families through residential real estate, commercial real estate creates jobs and space for retail, offices and manufacturing.
Real estate has many job opportunities which through this people can pay tax. Apart from improving the living standards of many people, investors of real estate pay tax to the government which helps in improving the economy of the country.