What is the relationship between age and real estate?

[Good-Person]

The average age of a local population may matter a lot when it comes to real estate business. Most of the real estate investors in my country are elderly people. They usually invest their life savings into the real estate market. This makes sense. So, is there any relationship between age and real estate market?

 

[Nomad]

The value of real estate property starts going down as it starts aging. Older properties are low priced compared to newly developed properties. In fact the age of the property actually determines the value of the property