property_characteristics
Table of Contents
Property Characteristics
1. Physical Characteristics
- Immobility: land cannot be moved
- Indestructibility: land is permanent (improvements may depreciate)
- Non-homogeneity (uniqueness): no two parcels are exactly alike
2. Economic Characteristics
- Scarcity: land is limited in supply
- Improvement: value is affected by surrounding land uses
- Permanence of investment: capital invested in land and improvements is long-term
- Area preference (situs): value is influenced by location and desirability
property_characteristics.txt · Last modified: by reidjs