The property should be located in an area that is safe. There should not be the threat of any criminal elements frequenting the area. The area should also be well lit with plenty of people residing near the property. In case the property is a commercial establishment, it is preferable if the clients of the business are located nearby. In case, it is a home, the commute to work should not take too long, and schools and daycare homes should be nearby.
Those at the upper strata of society are particularly selective about the brand value of the home they are buying. They want the home to be in a place that is posh and has tremendous snob value. There are always certain areas of a city where the richest and most fashionable people reside. Homes and commercial properties in such places command high rates.