diff --git a/app/controllers/properties_controller.rb b/app/controllers/properties_controller.rb
new file mode 100644
index 00000000..2219594b
--- /dev/null
+++ b/app/controllers/properties_controller.rb
@@ -0,0 +1,34 @@
+class PropertiesController < ApplicationController
+  before_action :set_account, only: :update
+
+  def create
+    account = Current.family.accounts.create!(account_params)
+    account.sync_later
+    redirect_to account, notice: t(".success")
+  end
+
+  def update
+    @account.update!(account_params)
+    @account.sync_later
+    redirect_to @account, notice: t(".success")
+  end
+
+  private
+
+    def set_account
+      @account = Current.family.accounts.find(params[:id])
+    end
+
+    def account_params
+      params.require(:account)
+        .permit(
+          :name, :balance, :currency, :accountable_type,
+          accountable_attributes: [
+            :id,
+            :year_built,
+            :area,
+            address_attributes: [ :line1, :line2, :locality, :region, :country, :postal_code ]
+          ]
+        )
+    end
+end
diff --git a/app/helpers/properties_helper.rb b/app/helpers/properties_helper.rb
new file mode 100644
index 00000000..e9841903
--- /dev/null
+++ b/app/helpers/properties_helper.rb
@@ -0,0 +1,2 @@
+module PropertiesHelper
+end
diff --git a/app/models/account.rb b/app/models/account.rb
index 9f17f756..bd2f28cf 100644
--- a/app/models/account.rb
+++ b/app/models/account.rb
@@ -28,6 +28,8 @@ class Account < ApplicationRecord
 
   delegated_type :accountable, types: Accountable::TYPES, dependent: :destroy
 
+  accepts_nested_attributes_for :accountable
+
   delegate :value, :series, to: :accountable
 
   class << self
diff --git a/app/models/address.rb b/app/models/address.rb
new file mode 100644
index 00000000..1ab76cda
--- /dev/null
+++ b/app/models/address.rb
@@ -0,0 +1,26 @@
+class Address < ApplicationRecord
+    belongs_to :addressable, polymorphic: true
+
+    validates :line1, :locality, presence: true
+    validates :region, presence: true, format: { with: /\A[A-Z]{1,3}(-[A-Z\d]{1,3})?\z/, message: "must be a valid ISO3166-2 code" }
+    validates :country, presence: true, format: { with: /\A[A-Z]{2}\z/, message: "must be a valid ISO3166-1 Alpha-2 code" }
+    validates :postal_code, presence: true, if: :postal_code_required?
+
+    def to_s
+      I18n.t("address.format",
+        line1: line1,
+        line2: line2,
+        county: county,
+        locality: locality,
+        region: region,
+        country: country,
+        postal_code: postal_code
+      )
+    end
+
+    private
+
+    def postal_code_required?
+        country.in?(%w[US CA GB])
+    end
+end
diff --git a/app/models/measurement.rb b/app/models/measurement.rb
new file mode 100644
index 00000000..56b3ec43
--- /dev/null
+++ b/app/models/measurement.rb
@@ -0,0 +1,20 @@
+class Measurement
+  include ActiveModel::Validations
+
+  attr_reader :value, :unit
+
+  VALID_UNITS = %w[sqft sqm]
+
+  validates :unit, inclusion: { in: VALID_UNITS }
+  validates :value, presence: true
+
+  def initialize(value, unit)
+    @value = value.to_f
+    @unit = unit.to_s.downcase.strip
+    validate!
+  end
+
+  def to_s
+    "#{@value.to_i} #{@unit}"
+  end
+end
diff --git a/app/models/property.rb b/app/models/property.rb
index cae953c9..f6638ac9 100644
--- a/app/models/property.rb
+++ b/app/models/property.rb
@@ -1,3 +1,11 @@
 class Property < ApplicationRecord
   include Accountable
+
+  has_one :address, as: :addressable, dependent: :destroy
+
+  accepts_nested_attributes_for :address
+
+  def area
+    Measurement.new(area_value, area_unit)
+  end
 end
diff --git a/config/i18n-tasks.yml b/config/i18n-tasks.yml
index 7e58f1f3..028f9607 100644
--- a/config/i18n-tasks.yml
+++ b/config/i18n-tasks.yml
@@ -29,3 +29,4 @@ ignore_unused:
   - 'helpers.submit.*' # i18n-tasks does not detect used at forms
   - 'helpers.label.*' # i18n-tasks does not detect used at forms
   - 'accounts.show.sync_message_*' # messages generated in the sync ActiveJob
+  - 'address.attributes.*'
diff --git a/config/locales/models/address/en.yml b/config/locales/models/address/en.yml
new file mode 100644
index 00000000..eb0db551
--- /dev/null
+++ b/config/locales/models/address/en.yml
@@ -0,0 +1,15 @@
+---
+en:
+  address:
+    attributes:
+      country: Country
+      line1: Address Line 1
+      line2: Address Line 2
+      locality: Locality
+      postal_code: Postal Code
+      region: Region
+    format: |-
+      %{line1}
+      %{line2}
+      %{locality}, %{region} %{postal_code}
+      %{country}
diff --git a/config/locales/views/properties/en.yml b/config/locales/views/properties/en.yml
new file mode 100644
index 00000000..a59f2f24
--- /dev/null
+++ b/config/locales/views/properties/en.yml
@@ -0,0 +1,7 @@
+---
+en:
+  properties:
+    create:
+      success: Property created successfully
+    update:
+      success: Property updated successfully
diff --git a/config/routes.rb b/config/routes.rb
index bbf8c8ac..25b92740 100644
--- a/config/routes.rb
+++ b/config/routes.rb
@@ -89,6 +89,8 @@ Rails.application.routes.draw do
     end
   end
 
+  resources :properties, only: %i[ create update ]
+
   resources :transactions, only: %i[ index new create ] do
     collection do
       post "bulk_delete"
diff --git a/db/migrate/20240822174006_create_addresses.rb b/db/migrate/20240822174006_create_addresses.rb
new file mode 100644
index 00000000..a4e7e1bd
--- /dev/null
+++ b/db/migrate/20240822174006_create_addresses.rb
@@ -0,0 +1,16 @@
+class CreateAddresses < ActiveRecord::Migration[7.2]
+  def change
+    create_table :addresses, id: :uuid do |t|
+      t.references :addressable, type: :uuid, polymorphic: true
+      t.string :line1
+      t.string :line2
+      t.string :county
+      t.string :locality
+      t.string :region
+      t.string :country
+      t.integer :postal_code
+
+      t.timestamps
+    end
+  end
+end
diff --git a/db/migrate/20240822180845_add_property_attributes.rb b/db/migrate/20240822180845_add_property_attributes.rb
new file mode 100644
index 00000000..793a0fa8
--- /dev/null
+++ b/db/migrate/20240822180845_add_property_attributes.rb
@@ -0,0 +1,7 @@
+class AddPropertyAttributes < ActiveRecord::Migration[7.2]
+  def change
+    add_column :properties, :year_built, :integer
+    add_column :properties, :area_value, :integer
+    add_column :properties, :area_unit, :string
+  end
+end
diff --git a/db/schema.rb b/db/schema.rb
index 3a423928..cb2fe1ff 100644
--- a/db/schema.rb
+++ b/db/schema.rb
@@ -10,7 +10,7 @@
 #
 # It's strongly recommended that you check this file into your version control system.
 
-ActiveRecord::Schema[7.2].define(version: 2024_08_17_144454) do
+ActiveRecord::Schema[7.2].define(version: 2024_08_22_180845) do
   # These are extensions that must be enabled in order to support this database
   enable_extension "pgcrypto"
   enable_extension "plpgsql"
@@ -152,6 +152,21 @@ ActiveRecord::Schema[7.2].define(version: 2024_08_17_144454) do
     t.index ["blob_id", "variation_digest"], name: "index_active_storage_variant_records_uniqueness", unique: true
   end
 
+  create_table "addresses", id: :uuid, default: -> { "gen_random_uuid()" }, force: :cascade do |t|
+    t.string "addressable_type"
+    t.uuid "addressable_id"
+    t.string "line1"
+    t.string "line2"
+    t.string "county"
+    t.string "locality"
+    t.string "region"
+    t.string "country"
+    t.integer "postal_code"
+    t.datetime "created_at", null: false
+    t.datetime "updated_at", null: false
+    t.index ["addressable_type", "addressable_id"], name: "index_addresses_on_addressable"
+  end
+
   create_table "categories", id: :uuid, default: -> { "gen_random_uuid()" }, force: :cascade do |t|
     t.string "name", null: false
     t.string "color", default: "#6172F3", null: false
@@ -358,6 +373,9 @@ ActiveRecord::Schema[7.2].define(version: 2024_08_17_144454) do
   create_table "properties", id: :uuid, default: -> { "gen_random_uuid()" }, force: :cascade do |t|
     t.datetime "created_at", null: false
     t.datetime "updated_at", null: false
+    t.integer "year_built"
+    t.integer "area_value"
+    t.string "area_unit"
   end
 
   create_table "securities", id: :uuid, default: -> { "gen_random_uuid()" }, force: :cascade do |t|
diff --git a/test/controllers/properties_controller_test.rb b/test/controllers/properties_controller_test.rb
new file mode 100644
index 00000000..7b34d9b6
--- /dev/null
+++ b/test/controllers/properties_controller_test.rb
@@ -0,0 +1,71 @@
+require "test_helper"
+
+class PropertiesControllerTest < ActionDispatch::IntegrationTest
+  setup do
+    sign_in @user = users(:family_admin)
+    @account = accounts(:property)
+  end
+
+  test "creates property" do
+    assert_difference [ "Account.count", "Property.count" ] do
+      post properties_path, params: {
+        account: {
+          name: "Property",
+          balance: 500000,
+          currency: "USD",
+          accountable_type: "Property",
+          accountable_attributes: {
+            year_built: 2002,
+            area_value: 1000,
+            area_unit: "sqft",
+            address_attributes: {
+              line1: "123 Main St",
+              line2: "Apt 1",
+              locality: "Los Angeles",
+              region: "CA", # ISO3166-2 code
+              country: "US", # ISO3166-1 Alpha-2 code
+              postal_code: "90001"
+            }
+          }
+        }
+      }
+    end
+
+    created_account = Account.order(:created_at).last
+
+    assert_redirected_to account_path(created_account)
+    assert_equal "Property created successfully", flash[:notice]
+    assert_enqueued_with(job: AccountSyncJob)
+  end
+
+  test "updates property" do
+    assert_no_difference [ "Account.count", "Property.count" ] do
+      patch property_path(@account), params: {
+        account: {
+          name: "Updated Property",
+          balance: 500000,
+          currency: "USD",
+          accountable_type: "Property",
+          accountable_attributes: {
+            id: @account.accountable_id,
+            year_built: 2002,
+            area_value: 1000,
+            area_unit: "sqft",
+            address_attributes: {
+              line1: "123 Main St",
+              line2: "Apt 1",
+              locality: "Los Angeles",
+              region: "CA", # ISO3166-2 code
+              country: "US", # ISO3166-1 Alpha-2 code
+              postal_code: "90001"
+            }
+          }
+        }
+      }
+    end
+
+    assert_redirected_to account_path(@account)
+    assert_equal "Property updated successfully", flash[:notice]
+    assert_enqueued_with(job: AccountSyncJob)
+  end
+end
diff --git a/test/fixtures/addresses.yml b/test/fixtures/addresses.yml
new file mode 100644
index 00000000..0124887e
--- /dev/null
+++ b/test/fixtures/addresses.yml
@@ -0,0 +1,9 @@
+one:
+  line1: 123 Main Street
+  line2: Apt 4B
+  locality: Los Angeles
+  region: CA
+  country: US
+  postal_code: 90001
+  addressable: one
+  addressable_type: Property
diff --git a/test/fixtures/properties.yml b/test/fixtures/properties.yml
index e0553ab0..c330c7f3 100644
--- a/test/fixtures/properties.yml
+++ b/test/fixtures/properties.yml
@@ -1 +1,4 @@
-one: { }
\ No newline at end of file
+one:
+  year_built: 2002
+  area_value: 1000
+  area_unit: "sqft"
\ No newline at end of file
diff --git a/test/models/address_test.rb b/test/models/address_test.rb
new file mode 100644
index 00000000..e6d50548
--- /dev/null
+++ b/test/models/address_test.rb
@@ -0,0 +1,15 @@
+require "test_helper"
+
+class AddressTest < ActiveSupport::TestCase
+  test "can print a formatted address" do
+    address = Address.new(
+      line1: "123 Main St",
+      locality: "San Francisco",
+      region: "CA",
+      country: "US",
+      postal_code: "94101"
+    )
+
+    assert_equal "123 Main St\n\nSan Francisco, CA 94101\nUS", address.to_s
+  end
+end