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Some of the factors determining the property rates in a country or region are as follows

1. Location - real estate rates in metro cities and densely populated areas are very high. It is often believed that real estate rates are related to the per capita income or economic conditions, but real estate in some of the nations with the lowest per capita income are some of the highest in the world. In reality, real estate prices are related to the demand and supply of real estate.
2. Employment opportunies. In places where a lot of employment opportunities are available, property rates are relatively higher since most people would like to stay in a place which is close to their workplace and reduce the time and money spent commuting.In remote rural areas or towns where offices/shops are closing, there are relatively fewer job opportunities and the property rates are lower.
3. Climate - places with a pleasant weather throughout the year have relatively high property rates
4. Tourist spots - popular tourist spots attract high paying tourists, especially during the peak tourism season, so there is a scarcity of land, resulting in high land rates