Autorentext

Nicholas G. Pirounakis is a retired Professor of Economics at the American College of Greece (Deree College), located in Athens.

Klappentext

Real Estate Economics: A Point-to-Point Handbook introduces the main tools and concepts of real estate (RE) economics. It covers areas such as the relation between RE and the macro-economy, RE finance, investment appraisal, taxation, demand and supply, development, market dynamics and price bubbles, price estimation, and policy responses to the current housing crisis, including the key role of assetisation and financialisation. It discusses both housing and commercial property economics.

This textbook takes an international approach and introduces the reader to the necessary 'toolbox' of models required in order to properly understand the mechanics of real estate. It combines theory, technique, up-to-date real-life cases, and practical examples. The second edition has been fully updated to take account of all the latest developments and issues in the field, including a stronger societal perspective than was the case in the first edition. It also extends to significant emerging economies (China first and foremost) and other global trends, as between 'developed' and 'developing' economies.

Real Estate Economics will be particularly useful to undergraduate students of RE or urban economics, and postgraduates who want to specialise in RE economics, as well as to RE practitioners and students reading for RE-related professional qualifications.

Inhalt

Preface. Abbreviations. 1. An overview of the real estate (RE) sector 2. Tools of analysis 3. RE in the wider economy 4. RE finance: Loans, equity withdrawal, MBSs 5. RE as an investment decision 6. Office and other commercial RE (CRE) 7. Housing demand and supply 8. Construction flows and market equilibrium 9. RE taxation 10. Land uses, values, and taxation 11. Housing market bubbles 12. RE performance and price measures 13. The housing question - again 14. Residential real estate in modern China