Classification of the Property Market

Classification of the Property Market

Each group of properties, which in some measure substitute for one another, represent but the principal division are formed by location, where the estate is available for renting or sale, investment, occupation or according to use:

The property market is sub-divided into various sectors based on the following factors:

 (1) Location Property Market

Not all the landed properties in the property market are localized therefore the value tends to concentrate on particular areas and become an expert in its pattern of values and general characteristics the uniqueness of location is only relevant to the extent that there may be other property offering comparable advantage of position. Olusegun (2003).

(2) Rent or Sale Property Market

The market for property rent or sale are usually through they may overlap, the do in fact merge where houses are generated at premium. As a role however, conclusion where there is tendency for properties of each type and class either to be available for purchase or renting but without the choice of both on comparable terms. Olusegun (2008).

(3) Investment or Occupation Property Market

The investment or occupation of commercial property often overlap. The position is usually determined by where the property being disposed of its occupied or vacant.

Nevertheless an occupied property may be purchased with the aim of obtaining and going into occupation. A vacant property may also be bought for investment produce periodic income from it. Olusegun (2003).