This class includes buying, selling, renting and operating of self-owned or leased real estate such as apartment buildings and dwellings, non-residential buildings; developing and subdividing real estate into lots, etc. Also included are development and sale of lands, operating of apartment hotels and residential mobile home sites.

Exclusions: Development on own account involving construction is classified in class 4520 (Building of complete constructions or parts thereof; civil engineering).

The operation of hotels, rooming houses, camps, trailer camps and other short-term lodging places is classified in class 5510 (Hotels; camping sites and other provision of short-stay accommodation).