Buying and selling of own real estate

NACE code 68.10 covers the buying and selling of own real estate. This industry plays a crucial role in the broader economy, facilitating the transfer of property ownership and enabling individuals and businesses to acquire the physical spaces they need to live, work, and operate. As a key driver of economic activity, the real estate industry is closely tied to broader trends in construction, finance, and consumer spending.

The core activities within the real estate industry involve the purchase, management, and sale of residential, commercial, and industrial properties. This typically includes tasks such as property valuation, marketing, negotiation, and the facilitation of transactions between buyers and sellers. Real estate professionals utilize a range of tools and techniques, including market analysis, property listings, and legal/financial expertise, to ensure smooth and efficient property transfers.

The real estate industry relies on a variety of inputs, including land, buildings, and other physical infrastructure. Additionally, the industry requires skilled professionals such as real estate agents, property managers, and legal/financial experts. Access to financing, both for buyers and sellers, is also a critical input, as are robust legal and regulatory frameworks to govern property rights and transactions.

The primary output of the real estate industry is the transfer of property ownership. This, in turn, enables a wide range of other economic activities, as individuals and businesses acquire the physical spaces they need to live, work, and operate. The real estate industry's outputs are closely linked to 41.10 Construction of buildings, 68.20 Renting and operating of own or leased real estate, and 68.31 Real estate agencies among other NACE codes.