sales cost
The asking or agreed sale price of property expressed per square meter or square foot of floor space.
The sales cost per square unit reflects the asking rate (before sale) and agreed-upon rate (at the time of sale) for any property. It is taken as the average amount of any currency charged per square meter or square foot for floor space within the parcel for which it is measured.
The amount is a rate for a unit of floor area, rather than the total price of the parcel. Currency and the choice of square meters or square feet are part of what the rate expresses.
An asking rate describes the price sought before a sale; an agreed rate describes the price accepted for the transaction. An appraisal alone does not establish either of those transaction prices.
Related definitions
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assessed value
A property value established by an official government assessment at a given time, usually for taxation. -
brokerage commission
A service fee paid to an agent for the successful completion of a transaction. -
construction cost $
The total costs of construction in US Dollars as recorded at the time of completion. -
construction cost CHF
The total costs of construction in Swiss Francs as recorded at the time of completion. -
construction cost RMB
The total costs of construction in Chinese Renminbi as recorded at the time of completion. -
construction cost £
The total costs of construction in Pounds Sterling as recorded at the time of completion. -
construction cost ¥
The total costs of construction in Japanese Yen as recorded at the time of completion. -
construction cost €
The total costs of construction in Euros as recorded at the time of completion. -
demolition cost
The amount spent or projected for a complete or partial demolition project, according to the date of the figure. -
deposit
An amount of money presented to the owner as a security when leasing a property. -
land cost
The asking or paid price of a property's land at a given time, apart from the value of structures on it. -
property tax
The total annual property taxes levied by the applicable governments and owed by the property owner. -
renovation cost
The amount spent or projected for one renovation project, separated in time from other construction or alteration work. -
rental cost
The price charged to tenants per measured square unit to rent space in a structure. -
revenue
Monetary figures describing earnings or value received by a structure, company, land area, or other object.