Which term best describes an increase in the value of a property over time?

The term that best describes an increase in the value of a property over time is appreciation. Appreciation refers specifically to the rise in property values due to various factors, such as improvements made to the property, an increase in demand for housing, or overall economic growth.

Understanding appreciation is crucial for both homeowners and investors, as it can significantly impact net worth and investment profitability. This increase in value can also be influenced by location, economic conditions, and other external factors. In the context of real estate, appreciation directly affects how much equity a homeowner can build in their property and the potential return on investment for a property owner or investor when selling a property.

The other choices reflect different concepts. Depreciation refers to a decrease in property value over time, which can occur due to wear and tear or economic downturns. Revaluation refers to the process of reassessing the value of a property, which may or may not capture appreciation accurately at a given point. Market growth describes a general trend in the housing market without specifically indicating an individual property's value increase. Therefore, appreciation is the precise term that aligns with the concept of increasing property value over time.