The price(ing) is not right.

The property market has a ceiling, and it is largely self-imposed.

It prices how buildings are specified, not how buildings are chosen.

Ceiling heights, amenities, fresh air and all the trappings of "best-in-class" become the metric for positioning and, ultimately, pricing because they are measurable, comparable, defensible.

But in doing so, assets become predictable, comparable, interchangeable - flattening the very differentiation that creates value.

In most consumer markets, value is not determined purely by technical attributes. Luxury goods are not priced on stitch count. Watches are not priced on case diameter. Smartphones are not priced on hardware alone. Hotels are not priced purely on room size.

Their pricing reflects something more powerful: aspiration, perception, and the identity they confer on the user. Design and branding often carry more currency in the market than technical performance.

Is property that different? Not really.

Buildings are chosen for what they signal as much as for what they provide; yet, the market still prices as if they are not.

The market doesn’t lack value. It lacks the ability to recognise it.