The word 房产 is formed by combining two characters, each representing a core idea, to create a new, specific concept. The first character, 房 (fáng), means "house" or "building", picturing a physical structure. The second, 产 (chǎn), means "property", "asset", or "that which is produced". When placed together, the two concepts merge into a single, unified notion: the property that is a house, that is, real estate or housing property. It’s a direct conceptual pairing where the first character specifies the type of the second.