The building itself, on an individual basis, depreciates over time. The investment component is about the land, or more accurately, the volume of space above (

The building itself, on an individual basis, depreciates over time. The investment component is about the land, or more accurately, the volume of space above (and to a certain extent below) the surface that is inescapably necessary for human existence, which can be enclosed by walls and a door for additional dignity. It is a claim on the sky.