Real estate activities

NACE code 68 covers real estate activities, a vital sector that plays a crucial role in the broader economy. This industry encompasses the buying, selling, renting, and management of self-owned or leased real estate, such as residential and commercial properties. Real estate activities are essential for providing individuals and businesses with the physical spaces they need to live, work, and thrive, making it a fundamental component of economic development and growth.

The main production techniques in the real estate industry involve the acquisition, development, and management of properties. This includes activities such as property valuation, negotiation of sales and rental agreements, property maintenance and repair, and the provision of related services like property management and real estate brokerage.

The key inputs required for real estate activities include land, buildings, construction materials, and skilled labor. Real estate professionals, such as real estate agents, property managers, and appraisers, are also essential inputs for this industry. Additionally, access to financing, legal and regulatory frameworks, and market data are important resources needed to facilitate real estate transactions and operations.

The primary outputs of the real estate industry are the sale, rental, and management of residential, commercial, and industrial properties. These outputs serve as inputs for a wide range of other NACE codes, including 41 Construction of buildings, 68 Real estate activities, 77 Rental and leasing activities, and 82 Office administrative, office support and other business support activities.