Real estate has seven traits that are either economical or physical. The economic features of land affect the investment and market value if the land, whereas the physical qualities relate to the land itself.


ECONOMIC TRAITS
* SCARCITY: While most of the land on earth remains unused or uninhabited, the supply of land in a given location or a given quality is generally limited.
* IMPROVEMENTS: Building an improvement on one parcel of land can affect that land's value and use. It can also affect the property of neighbors and the community.
*THE PERMANENCE OF INVESTMENT: The capital that is used for an improvement of a property can be a large fixed investment. In addition, the return on such investments tends to be long-term and relatively stable, making it a permanent investment.
* LOCATION: Real Estate location is the most important economic characteristics of the land. This is because people prefer certain geographical areas over others and these preferences will result in different values for properties in different locations.


SOCIAL ATTRIBUTES
* IMMOBILITY: Even though one can move dirt and land, they can never change their location of a parcel.
*INDESTRUCTIBILITY: Land is also indestructible, permanent and the location will never change.
* UNIQUENESS: Although land can be similar and homes may even have the same design or a layout, but no two pieces of land are ever the same.

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