The economic of commercial property market.pdf
by Michael Ball,Colin Lizieri and Bryan D.MacGregor

Print Length: 417 pages
Publisher: Taylor & Francis (March 30, 2007)
Language: English

Editorial Reviews
Review
'The authors have done a great service for those who want a comprehensive and readable synthesis of the how and why of the contemporary commercial property market.' - Progress in Human Geography
'The book offers a rigorous, coherent and clearly written treatment of its subject area: it is likely to become the standard work in the field.' - John Henneberry, University of Sheffield
'This book is a timely and welcome addition in that there is nothing comparable in the literature. It is a critical, comprehensive review which covers micro and macro property markets and provides a detailed examination of the financial economics of property. The authors are to be commended for producing such a well-pitched and wide-ranging study.' - Ken Gibb, University of Glasgow
'This comprehensive and well-written text provides clear evidence of the progress that European real estate research and education has made in recent years...an excellent reference text for all real estate academics and practitioners.' - Pat Hendershott, Ohio State University
The authors have done a great service for those who want a comprehensive and readable synthesis of the how and why of the contemporary commercial property market. - Progress in Human Geography
The book offers a rigorous, coherent and clearly written treatment of its subject area: it is likely to become the standard work in the field. - John Henneberry, University of Sheffield
This book is a timely and welcome addition in that there is nothing comparable in the literature. It is a critical, comprehensive review which covers micro and macro property markets and provides a detailed examination of the financial economics of property. The authors are to be commended for producing such a well-pitched and wide-ranging study. - Ken Gibb, University of Glasgow
This comprehensive and well-written text provides clear evidence of the progress that European real estate research and education has made in recent years...an excellent reference text for all real estate academics and practitioners. - Pat Hendershott, Ohio State University
`Good to see an up-to-date text covering property economics. Useful for both 2nd and final year studies - - Phillip Leverton, Glamorgan University
Product Description
This new text provides a rigorous analysis of real estate markets. It goes beyond the often-descriptive nature of much property market analysis to focus on important theoretical principles. The book is divided into three main sections, covering :
microeconomics of property markets
the macroeconomics of commercial property
the financial economics of property
Empirical examples drawn from around the world clearly illustrate the theories and issues discussed. Throughout, the emphasis is on making an often complex area as accessible and readable as possible, with each chapter containing a boxed summary and questions for self-testing or discussion.

vii
CONTENTS
List of figures ix
List of tables xi
Preface xii
Acknowledgements xiv
1 Introduction 1
PART 1
Microeconomics and commercial property 11
Introduction and commentary 13
2 A model of commercial property markets 18
3 User demand and the land market 41
4 The location of commercial property 76
5 Property supply and institutional analysis 105
PART 2
Macroeconomics and the property market 135
Introduction and commentary 137
6 Property markets and the macroeconomy 143
7 Long-run supply,stability and efficiency 168
8 Property cycles 195
9 Market modelling and forecasting 220CONTENTS
PART 3
Financial economics and commercial property 253
Introduction and commentary 255
10 Property’s financial investment characteristics 260
11 Property in investment portfolios 287
12 Indirect investment in property 308
13 International property investment 332
Notes 357
References 367
Author index 385
Subject index 390