In real estate brokerage terminology residential property is owner-occupied housing. In other words any property, which is used for residential purposes. A Property that is designated for only homes, apartments, townhouses, and penthouses is referred to as residential properties.

A Residential apartment or simply apartment is a self-contained housing unit that occupies only a part of a big building. It may consists of a single bedroom, double bedroom or even more. In most of the commonwealth countries, the term 'flat' is used to describe apartments.  The apartment culture has been in the metros and top cities but now it is flourishing in the small and  emerging towns. The emergence of the concept of nuclear families has driven this trend.The residents of  the apartments have the advantage of community living and other lifestyle facilities, like club-house,  swimming pool, gymnasium etc.

Independent houses are most ancient concept but yet one of the important parts of residential properties. Independent houses have separate structures and entrances with self-contained arrangements. The independent houses are the most wanted dream of the middle-class group. But the cost of land in the city and even on the fringes are beyond their reach. But builders have come forward with a solution, which fulfill their dreams of having an independent house and they are within their budgets too. These are independent houses but some time also called budget houses. They are less than half the size of the general independent houses