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Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this an item of real property, buildings or housing in general. Residential real estate may contain either a single family or multifamily structure that is available for occupation or for non-business purposes. Residences can be classified by and how they are connected to neighbouring residences and land. Different types of housing tenure can be used for the same physical type. Commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial buildings are buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings.
Australia and New Zealand are the only highly developed independent nations in the region, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. New Caledonia, Hawaii and French Polynesia are highly developed too but are not sovereign states. Australia's per-capita GDP is higher than that of the UK, Canada, Germany, and France in terms of purchasing power parity. New Zealand is also one of the most globalised economies and depends greatly on international trade. The majority of people living in Australia work in the health care, retail and education sectors. Australia boasts the largest amount of manufacturing in the region, producing cars, electrical equipment, machinery and clothes. Countries of Australia and New Zealand region are Australia, Papua New Guinea, New Zealand, Fiji, Solomon Islands, Micronesia, Vanuatu, Samoa, Kiribati, Tonga, Marshall Islands, Palau, Tuvalu, Nauru.