NACE-BELSection
NACE-BEL M—Real estate activities
Section · Nomenclature of Economic Activities (Belgium) (2025)
Where M sits
- M Real estate activities
Contains 1 narrower code
What M includes
- This section covers the activities of owning, leasing, buying, selling, developing, or renovating (redeveloping) real estate. It includes various types of real estate investors (e.g., real estate investment companies, real estate investment trusts (REITs), real estate asset management companies, real estate funds, real estate development companies, real estate dealers, and housing cooperatives).
- Furthermore, it includes the activities of agents and/or brokers in one or more of the following areas: the sale or purchase of real estate, the leasing of real estate, and the provision of other real estate-related services (e.g., real estate appraisal or acting as a real estate trustee). The activities in this section may be carried out on owned or leased properties and may be performed on behalf of third parties.
- This section also includes the development of construction projects for owned buildings or civil engineering works for the purpose of subsequent sale or leasing.
What M excludes
- General construction and specialized construction activities for buildings and civil engineering works
- See section F
M in other systems
ANZSICAustralia · New Zealand
- L Rental, hiring and real estate services approximate via ISIC M
- E Construction approximate via ISIC F
- 6711 Residential Property Operators inferred via ISIC M
- 6712 Non-Residential Property Operators inferred via ISIC M
- 6720 Real Estate Services inferred via ISIC M
- 3211 Land Development and Subdivision inferred via ISIC M
- 3020 Non-Residential Building Construction inferred via ISIC F
- 3019 Other Residential Building Construction inferred via ISIC F
ATECOItaly
- M Real Estate Activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.11.00 Buying and selling of own real estate inferred via ISIC M
- 68.20.09 Rental and operating of own or leased real estate n.e.c. inferred via ISIC M
- 68.20.01 Rental and operating of own or leased non-residential land for telecommunication activities inferred via ISIC M
- 68.31 Intermediation service activities for real estate activities inferred via ISIC M
- 68.20.02 Rental and operating of own or leased non-residential land and buildings, plants and factories inferred via ISIC M
- 68.32 Other real estate activities on a fee or contract basis inferred via ISIC M
CLANAEArgentina
- L Real estate services exact via ISIC M
- F Construction approximate via ISIC F
- 68.109 Real estate services performed on own account, with own or leased property n.e.c. inferred via ISIC M
- 68.101 Rental and operation services for properties for parties, conventions and other similar events inferred via ISIC M
- 68.102 Medical office rental services inferred via ISIC M
- 43 Specialized construction activities inferred via ISIC F
- 68.20 Real estate services performed in exchange for remuneration or by contract inferred via ISIC M
- 42.1 Construction, renovation and repair of transport infrastructure works inferred via ISIC F
CNAE BrazilBrazil
- L Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 6822-6/00 Management and administration of real estate property inferred via ISIC M
- 43.1 Demolition and site preparation inferred via ISIC F
- 6810-2/01 Buying and selling of own real estate inferred via ISIC M
- 43.2 Electrical, plumbing, and other installations in buildings inferred via ISIC F
- 6821-8/02 Real estate brokerage in property rentals inferred via ISIC M
- 43.3 Finishing works inferred via ISIC F
CNAESpain
- M Real Estate Activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.20 Renting real estate on one's own account inferred via ISIC M
- 68.11 Purchase and sale of real estate on one's own account inferred via ISIC M
- 68.32 Other real estate activities on behalf of third parties inferred via ISIC M
- 68.31 Real estate brokerage services inferred via ISIC M
- 43.21 Electrical installations inferred via ISIC F
- 43.22 Plumbing, installation of heating and air conditioning systems inferred via ISIC F
HSICHong Kong
- F Construction approximate via ISIC F
- 682 Real estate activities on a fee or contract basis inferred via ISIC M
- 411 Erection of architectural superstructures inferred via ISIC F
- 412 Structural steel framework erection inferred via ISIC F
- 421 Construction of civil engineering projects inferred via ISIC F
- 422 Miscellaneous civil engineering works inferred via ISIC F
- 6812 Real estate leasing inferred via ISIC M
- 419 Other new building construction works inferred via ISIC F
ICNEAChina
- K Real estate industry approximate via ISIC M
- N Water conservancy, environment and public facilities management industry approximate via ISIC M
- E Construction industry approximate via ISIC F
- 7030 Real estate agency services inferred via ISIC M
- 7090 Other real estate industry inferred via ISIC M
- 7040 Real estate leasing and operation inferred via ISIC M
- 701 Real estate development and operation inferred via ISIC M
- 703 Real estate agency services broader via ISIC M
ISICUnited Nations (global)
- M Real estate activities exact via ISIC M
- F Construction approximate
- 6810 Real estate activities with own or leased property inferred via ISIC M
- 6821 Intermediation service activities for real estate inferred via ISIC M
- 6829 Other real estate activities on a fee or contract basis inferred via ISIC M
- 4390 Other specialized construction activities inferred via ISIC F
- 432 Electrical, plumbing and other construction installation activities inferred via ISIC F
- 4340 Intermediation service activities for specialized construction services inferred via ISIC F
JSICJapan
- K Real estate and goods rental and leasing approximate via ISIC M
- D Construction approximate via ISIC F
- L Scientific research, professional and technical services approximate via ISIC M
- 6919 Other real estate lessors inferred via ISIC M
- 6812 Land subdividers and developers inferred via ISIC M
- 6811 Sales agents of buildings and houses inferred via ISIC M
- 6922 Room lessors inferred via ISIC M
- 6911 Office lessors inferred via ISIC M
KBLIIndonesia
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68210 Real Estate Intermediation Service Activities inferred via ISIC M
- 68299 Real Estate Activities On A Fee Or Other Contract Basis n.e.c. inferred via ISIC M
- 68291 Real Estate Appraisal Services inferred via ISIC M
- 68129 Other Non-Residential Real Estate Activities (Buildings and Land) Owned Or Rented inferred via ISIC M
- 68111 Building and Residential Land Development Activities inferred via ISIC M
- 68112 Rental Activities of Owned Or Rented Residential Buildings and Land inferred via ISIC M
KSICSouth Korea
- L Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68119 Renting of other real estate inferred via ISIC M
- 68129 Development and subdividing of other real estate inferred via ISIC M
- 68121 Development and subdividing of residential buildings inferred via ISIC M
- 68122 Development and subdividing of non-residential buildings inferred via ISIC M
- 68111 Renting of residential buildings inferred via ISIC M
- 68112 Renting of non-residential buildings inferred via ISIC M
MSICMalaysia
- M Real Estate Activities exact via ISIC M
- F Construction approximate via ISIC F
- 68210 Intermediation service activities for real estate inferred via ISIC M
- 68299 Real estate activities on a fee or contract basis n.e.c. inferred via ISIC M
- 68109 Real estate activities with own or leased property n.e.c. inferred via ISIC M
- 68292 Appraisal services for real estate inferred via ISIC M
- 68291 Management of real estate inferred via ISIC M
- 68103 Buying, selling, renting and operating of self-owned or leased real estate – land inferred via ISIC M
NACEEuropean Union
- M Real estate activities exact
- F Construction approximate via ISIC F
- I Accommodation and food service activities approximate via ISIC M
- 68.11 Buying and selling of own real estate inferred via ISIC M
- 68.20 Rental and operating of own or leased real estate inferred via ISIC M
- 68.31 Intermediation service activities for real estate activities inferred via ISIC M
- 68.32 Other real estate activities on a fee or contract basis inferred via ISIC M
- 68 Real estate activities broader via ISIC M
NAFFrance
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.20H Renting and operating of other real estate owned or leased inferred via ISIC M
- 68.20G Rental housing inferred via ISIC M
- 68.11Y Buying and selling of own property inferred via ISIC M
- 68.31Y Activities of intermediation service to the real estate activities inferred via ISIC M
- 68.32G Activities of the units to non-producing holding of real estate assets inferred via ISIC M
- 41.00 Construction of residential and non-residential inferred via ISIC F
NAICSUnited States
- 53 Real Estate and Rental and Leasing approximate via ISIC M
- 21 Mining, Quarrying, and Oil and Gas Extraction approximate via ISIC F
- 23 Construction approximate via ISIC F
- 531190 Lessors of Other Real Estate Property inferred via ISIC M
- 531390 Other Activities Related to Real Estate inferred via ISIC M
- 531110 Lessors of Residential Buildings and Dwellings inferred via ISIC M
- 531120 Lessors of Nonresidential Buildings (except Mini warehouses) inferred via ISIC M
- 531130 Lessors of Mini warehouses and Self-Storage Units inferred via ISIC M
NAICS CanadaCanada
- 53 Real estate and rental and leasing approximate via ISIC M
- 23 Construction approximate via ISIC F
- 52 Finance and insurance approximate via ISIC M
- 53132 Offices of real estate appraisers inferred via ISIC M
- 531190 Lessors of other real estate property inferred via ISIC M
- 531390 Other activities related to real estate inferred via ISIC M
- 53131 Real estate property managers inferred via ISIC M
- 531120 Lessors of non-residential buildings (except mini-warehouses) inferred via ISIC M
NICIndia
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 682901 Activities of valuation of real estate, appraisal services inferred via ISIC M
- 682999 Other real estate activities on a fee or contract basis n.e.c. Including rent collecting inferred via ISIC M
- 681005 Renting and operating of real estate space for data centres and cloud infrastructure inferred via ISIC M
- 681004 Renting and operating Malls, spaces for commercial activities (including storage spaces), self storage spaces and similar activities inferred via ISIC M
- 682100 Intermediation in buying, selling, and rental of real estate through direct broker-client interactions on a fee or contract basis inferred via ISIC M
- 681099 Other real estate rental and leasing n.e.c. Including renting of plant and factory buildings and letting of roofs for mobile towers inferred via ISIC M
NOGASwitzerland
- M Real Estate Activities exact via ISIC M
- F Construction approximate via ISIC F
- 681100 Buying and selling of own real estate inferred via ISIC M
- 682003 Activities of housing cooperatives inferred via ISIC M
- 682001 Rental and operating of self-owned or leased land inferred via ISIC M
- 682002 Rental and operating of self-owned or leased buildings and dwellings inferred via ISIC M
- 43 Specialised construction activities inferred via ISIC F
- 683100 Intermediation service activities for real estate activities inferred via ISIC M
OKVED 2Russia
- L Real estate operations exact via ISIC M
- F Construction approximate via ISIC F
- 68.20.1 Renting and managing own or rented residential real estate inferred via ISIC M
- 68.10.21 Buying and selling your own residential real estate inferred via ISIC M
- 68.20.21 Lease and management of own or leased commercial real estate inferred via ISIC M
- 68.10.12 Preparing to sell your own nonresidential real estate inferred via ISIC M
- 68.20.29 Lease and management of own or leased other nonresidential real estate inferred via ISIC M
- 68.10.11 Preparing to sell your own residential property inferred via ISIC M
PKDPoland
- M Activities Related To The Real Estate Market exact via ISIC M
- F Construction approximate via ISIC F
- 68.11.Z Buying and selling real estate on your own account inferred via ISIC M
- 68.20.Z Rental and management of owned or leased properties inferred via ISIC M
- 68.32.A Real estate valuation activities inferred via ISIC M
- 68.32.B Real estate management activities performed on commission inferred via ISIC M
- 68.31.Z Real estate brokerage inferred via ISIC M
- 42 Works related to the construction of civil and water engineering facilities inferred via ISIC F
SBINetherlands
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.11.0 Buying and selling of own real estate inferred via ISIC M
- 68.20.3 Rental and operating of real estate (not residential accommodation) inferred via ISIC M
- 68.20.1 Activities of housing associations and foundations inferred via ISIC M
- 68.20.2 Renting and operating of other residential accommodation inferred via ISIC M
- 43 Specialised construction activities inferred via ISIC F
- 68.31.0 Intermediation service activities for real estate activities inferred via ISIC M
SCIANMexico
- 53 Real estate and rental services for movable and intangible assets approximate via ISIC M
- 23 Construction approximate via ISIC F
- 52 Financial and insurance services approximate via ISIC M
- 531210 Real estate agencies and real estate brokers inferred via ISIC M
- 531311 Real estate management services inferred via ISIC M
- 523 Stock market, foreign exchange and financial investment activities inferred via ISIC M
- 5311 Rent directly from real estate agents inferred via ISIC M
- 531 Real estate services broader via ISIC M
SICUnited States (legacy)
- H Finance, Insurance, and Real Estate approximate via ISIC M
- C Construction approximate via ISIC F
- I Services approximate via ISIC F
- B Mining approximate via ISIC F
- 6519 Real Property Lessors, NEC inferred via ISIC M
- 6514 Dwelling Operators, Except Apartments inferred via ISIC M
- 6517 Railroad Property Lessors inferred via ISIC M
- 6515 Mobile Home Site Operators inferred via ISIC M
SNISweden
- M Real Estate Activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.110 Buying and selling of own real estate inferred via ISIC M
- 68.209 Other renting and operating of own or leased real estate inferred via ISIC M
- 68.31 Intermediation service activities for real estate activities inferred via ISIC M
- 68.202 Renting and operating of own or leased industrial premises inferred via ISIC M
- 68.32 Other real estate activities on a fee or contract basis inferred via ISIC M
- 68.203 Renting and operating of own or leased other premises inferred via ISIC M
SSICSingapore
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68101 Real estate developers inferred via ISIC M
- 68103 Letting and operating of self-owned or leased real estate property (except food courts, hawker centres, coffee shops and canteens) inferred via ISIC M
- 68105 Collective portfolio investment funds with rental income inferred via ISIC M
- 68104 Letting and operating of self-owned or leased food courts, hawker centres, coffee shops and canteens (with mainly rental income) inferred via ISIC M
- 68102 Operating of serviced apartments inferred via ISIC M
- 68106 Management of self-owned strata titled property inferred via ISIC M
TSICThailand
- L Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68101 The purchase and sale of personal real estate for residential purposes. inferred via ISIC M
- 68102 The purchase and sale of privately owned real estate that is not for residential purposes. inferred via ISIC M
- 68103 The leasing and operation of real estate, whether owned or leased from others, for residential purposes. inferred via ISIC M
- 68104 The leasing and operation of real estate, whether owned or leased from others, that is not for residential purposes. inferred via ISIC M
- 68201 The activities of a real estate agent, either for compensation or under a contract. inferred via ISIC M
- 4210 Construction of roads and railways. inferred via ISIC F
UK SICUnited Kingdom
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.11 Buying and selling of own real estate inferred via ISIC M
- 68.201 Renting and operating of housing association real estate inferred via ISIC M
- 68.202 Renting and operating of residential real estate other than housing associations inferred via ISIC M
- 68.209 Letting and operating of own or leased non-residential real estate other than conference and exhibition centres inferred via ISIC M
- 68.31 Intermediation service activities for real estate activities inferred via ISIC M
- 68.32 Other real estate activities on a fee or contract basis inferred via ISIC M
WZGermany
- M Real estate activities exact via ISIC M
- F Construction approximate via ISIC F
- 68.11.1 Buying and selling of own residential real estate inferred via ISIC M
- 68.11.2 Buying and selling of own non-residential real estate inferred via ISIC M
- 68.20.1 Renting and operating of own or leased residential real estate inferred via ISIC M
- 68.20.2 Renting and operating of own or leased non-residential real estate inferred via ISIC M
- 68.32 Other real estate activities on a fee or contract basis inferred via ISIC M
- 43 Specialised construction activities inferred via ISIC F
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