Real estate knowledge

What is the Motel?

A motel or motor lodge is a hotel designed for motorists and usually has a parking area for motor vehicles. Entering dictionaries after World War II, the word motel, coined as a portmanteau contraction of "motor hotel", originates from the Milestone Mo-Tel of San Luis Obispo, California (now called the Motel Inn of San Luis Obispo), which was built in 1925. The term referred initially to a type of hotel...

What is the Hotel?

A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a refrigerator and other kitchen facilities, upholstered chairs, a flat screen television, and en-suite bathrooms. Small, lower-priced hotels may offer only the most basic guest services and...

What is the Timeshare?

A timeshare (sometimes called vacation ownership) is a property with a divided form of ownership or use rights. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each owner of the same accommodation is allotted their period of time. Units may be sold as a partial ownership, lease, or "right to use", in which case the latter holds no...

What is the Apartment?

An apartment (American English), or flat (British English, Indian English) is a self-contained housing unit (a type of residential real estate) that occupies only part of a building, generally on a single storey. There are many names for these overall buildings, see below. The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a...

What is the smart city?

A Smart city is an urban area that uses different types of electronic Internet of Things (IoT) sensors to collect data and then use insights gained from that data to manage assets, resources and services efficiently. This includes data collected from citizens, devices, and assets that is processed and analyzed to monitor and manage traffic and transportation systems, power plants, utilities, water supply...

What is the Condominium?

A condominium, often shortened to condo, in the United States of America and in most Canadian provinces, is a type of living space similar to an apartment but independently sellable and therefore regarded as real estate. The condominium building structure is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. Similar concepts in other...

What is the Resort?

A resort (North American English) is a self-contained commercial establishment that tries to provide most of a vacationer's wants, such as food, drink, lodging, sports, entertainment, and shopping, on the premises. The term resort may be used for a hotel property that provides an array of amenities, typically including entertainment and recreational activities. A hotel is frequently a central feature of a...

What is the officetel?

In South Korea, an officetel (Korean: 오피스텔, a portmanteau of 'office' and 'hotel'), is a multi-purpose building with residential and commercial units. This is a type of studio apartment or studio flat. An officetel is designed to be a partially self-contained building, such that its occupants can live and work in the same building, minimizing commute time. Because of the convenience of having...

What is the Shophouse?

A shophouse is a building type serving both as a residence and a commercial business. It is defined in dictionary as a building type found in Southeast Asia that is "a shop opening on to the pavement and also used as the owner's residence", and became a commonly-used term since the 1950s. Variations of the shophouse may also be found in other parts of the world, in Southern China it is found in a building...

What is the bungalow?

A bungalow is a small house or cottage that is either single-storey or has a second storey built into a sloping roof (usually with dormer windows), and may be surrounded by wide verandas. The style is derived from the thatched huts of Bengali farmers. The British altered the style and built bungalows around British India. The first house in England that was classified as a bungalow was built in 1869. In...

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