The recurring pattern of recovery, expansion, hyper-supply, and recession in property markets.
Related terms
- Real property
Land and everything permanently attached to it, together with the associated rights of ownership.
- Secondary market
Resale of existing property between owners rather than from a developer.
- Space market
The market for the use of real estate (renting or buying to occupy), driven by the real economy.
- Tenant vs landlord
The two sides of a lease: the tenant pays to occupy space, the landlord owns and grants it.
- Tenure
The legal terms under which land or property is held - freehold, leasehold, usufruct, or licence.
- Usufruct
A right to use and derive benefit from a property owned by another, common in some MENA jurisdictions.
- Yield vs growth
Yield is the income return relative to price; growth is the appreciation in capital value.
- Asset allocation
How an investor splits capital across asset classes and, within real estate, across sectors and geographies; it is the primary driver of long-run portfolio ret…