ABSTRACT
This chapter discusses the basic aspects and attributes of the housing market with reference to unique characteristics, implications of consumer sentiment and culture through multi-disciplinary perspectives. A housing market can be driven by a set of attributes that play key roles in determining the demand and supply, the volume of investments, the level of consumption, the profile of the housing stock and consequently, the house prices. According to the housing literature, there are several attributes that can be identified in any housing market: territoriality or Spatiality or Immovability or spatial fixity in the housing market; variability and heterogeneity in the housing market; longevity or durability of housing units; and informationally imperfect market. Heterogeneity of a housing market implies variation in property types, locations, neighbourhoods, participants, and public amenities. Housing markets across the world portray a wide range of features that make analysis specific to the market.
