Real estate transactions are as mathematical in nature as they are monetary. This is why use of fractions, decimal and percentage is quite common in property sale and purchases. As for the decimal, it can be defined as a number whose integer part and the fractional part are separated by a decimal point. In other words, a decimal is applied to values with a fractional part that is separated from the integer part by the use of a decimal separator (.). The dot (.) in a decimal number is called a decimal. The digits following the decimal point show a value smaller than one.
In real estate transactions, numbers after the decimal are typically rounded off to two digits. If the decimal digit to the right of the number is rounded is 5 or higher, the digit being rounded by one. If the decimal digit to the right of the number being rounded is 4 or lower, nothing is added.
5.33846 rounded to two decimals is 5.34
5.33846 rounded to one decimal is 5.3
As the percentage is more commonly used for analyzing real estate data, decimal number are often converted into percentage points. That is done by way of moving the decimal point two places to the right and replacing the decimal with a percentage sign (%).