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REAL ESTATE DEMAND CONCEPTS. Following conventional economic theory, the demand for real estate space can be defined as the quantity of space or number of units demanded at various prices. In this sense, it is more appropriate to think of demand as a schedule as shown in Figure 2.1, rather than a single quantity.
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- Scarcity
- Modification
- Fixity
- Situs
Scarcity when it comes to real estate, describes a geographic area of land where there is high demand but low supply. We seldom think about land in this manner, but scarcity is a man-made circumstance rather than a natural occurrence created by generic market forces. Governments and private sectors take on projects to create vibrant cities or side ...
Modification refers to the lucky bloke who acquired a piece of empty land for next to nothing and a month later hears the amazing news that a casino is going to be built beside it. Making him a world class real estate investor.. sort of… The value of land is greatly influenced by what is available in the surrounding parcel of land. Facilities and a...
There are 2 main points to fixity (investment permanence) that need to be understood from an academic perspective. The first being that capital used in the buying and improvement of land will only reap it’s financial benefits in the long term. This is assuming that we take speculators out of the picture. It generally takes 20 to 30 years for the re...
Situs is a location preference people have towards certain geographic areas due to various natural and man-madereasons. Natural factors can refer to weather, climate, air quality, close to nature, etc. While man-made factors can refer to job opportunities, proximity to friends and family members, infrastructure, schools, etc. In the industrial and ...
Recreational zones are designated areas within a community or municipality that are specifically allocated for recreational activities and open space. These zones are essential for promoting leisure, physical activity, and social interaction among residents, often including parks, sports fields, playgrounds, and natural reserves. The establishment of recreational zones is a critical aspect of ...
Aug 3, 2023 · Real estate economics is the study of how real estate supply and demand impact the price, trends, and how an investment will be impacted in the long term. Housing economics is related to real ...
Resource Type: Lecture Notes. pdf. 402 kB. Week 1: Introduction. Download File. DOWNLOAD. Over 2,500 courses & materials. Freely sharing knowledge with learners and educators around the world.
Dec 15, 2022 · For example, the USDA reported that the average appreciation of land from 2021 to 2022 was 12.4%. If your goal is steady compounding of wealth, recreational land has the diversity to ensure your personal needs are met while storing value in the land and building value through land improvements and appreciation.
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Apr 28, 2022 · The reason why real property is considered to be a long-term investment is that real property is immovable, indestructible, and fixed. A fire can damage your home, but the real property or land will remain. The land is a piece of earth that will not disappear and remain there. The land is fixed and cannot be moved.
