Ace the 2026 CGFM Exam – Turbocharge Your Path to Financial Mastery!

Heritage property is defined as assets that have historic, cultural, or artistic significance. This type of property is recognized for its value in connecting individuals and communities to their history, culture, and identity. The designation of heritage property often involves preservation efforts to maintain these assets for future generations, acknowledging their importance beyond mere financial or utilitarian value.

In this context, heritage properties are not primarily evaluated based on their revenue-generating potential, essential government services, or investment aspects, which distinguish them from other types of assets. While properties that generate significant revenue or deliver essential services might be valuable in other ways, they do not carry the same intrinsic cultural or historical importance that characterizes heritage properties. Similarly, properties acquired purely for investment purposes fall outside the realm of heritage property, as their value is based on financial return rather than cultural significance.