Each property has unique features, whether it is its age, the building design of its structures, or its location. As such, real estate markets consist of assets that are considered:

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Real estate markets consist of assets that are considered heterogeneous because each property has unique features that differentiate it from others. This is in contrast to homogeneous assets, which are identical and therefore interchangeable. Real estate investors and buyers seek out properties based on their unique features, such as location, age, and building design, rather than just their price.

Each Property Has Unique Features, Whether It Is Its Age