| 单词 | property market |
| 释义 | property market The system by which land and buildings are bought and sold. There is no central institution for this market, which works through an informal network of estate agents and other specialized intermediaries. The property market is extremely imperfect, as every property is different in location, and properties in close proximity differ in several characteristics. These include: the type of buildings on them and their condition; access to transport facilities; and amenity aspects, such as proximity to either sources of pollution such as rubbish dumps or sources of pleasure such as parks. Also, most individuals move fairly seldom, owing to high costs of movement, and firms move even more seldom. Thus most buyers and sellers have little recent experience of the market, and most properties are not available to be traded at any point in time. Property prices are thus subject to large fluctuations. |
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