What is Property Value?
Property value, by definition, is known as “the present worth of the future benefits that arise from the ownership of a specific property.”
The value of real estate (or property) is realised and enjoyed over a long period of time, unlike most consumer goods which depreciate in value almost immediately after being purchased. Because of this reason, economic conditions and social trends (along with government regulations and environmental factors) must be considered in the process of property valuation.
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Disclaimer: The views, information, or opinions expressed in this blog post are for general information purposes only and should not be relied upon. We have not taken into account specific situations, facts or circumstances, and no part of this blog post constitutes personal financial, legal, or tax advice to you. You should seek tax advice from your accountant, specific to your situation.