Characteristics of real estate
Physical Characteristics of Real Estate:
The land has three physical features that distinguish it from other assets in the economy:
Immobility: Although certain parts of the land can be removed and the topography can be changed, it is never possible to modify the geographic position of any parcel of land.
Indestructibility. The land is durable and indestructible (permanent).
Uniqueness. No two-land plots can be the same. Even though they can share similarities, geographically, every parcel differs.