ABSTRACT
The RE market is intangible and exists all over towns, cities and the countryside. Understanding the complexity of the RE market is quite challenging as the nature of this market is imperfect; units of RE themselves are heterogeneous and difficult to compare. The RE market is also influenced by the behaviour, psychology and taste of stakeholders, and many other factors including:
• demand and supply of RE type; • the regional, national and global economy; • government policy including taxation;
• mortgage or business credits availability; • transparency of transactions; • availability of market information; • geographical characteristics; • changing fashion; • communication and accessibility; and • location, size, age, quality and specification of RE.
