A niche is specialized sector of the property market. Examples include income property, garden real estate, condos, equestrian property, vacation property, farm property, golf property, waterfront homes, beach houses and luxury homes.
These are often categories in which potential buyers think about the property they seek. They are also used by real estate marketing companies to reach these types of buyer. In this context a niche describes a specific segment of home buyers and sellers, classified by ethnicity, nationality or socio-economic group (eg social housing or luxury real estate).