Economy of Land and Real Estate II

This lecture covers the determinants of demand and supply in the real estate market, discussing how factors such as anticipated income, construction costs, and land prices influence the demand for and supply of land. It also explores the effects of an increase in demand and a decrease in supply on the equilibrium price and quantity, highlighting the adjustments needed for a new equilibrium. The lecture further examines the impacts of simultaneous variations in supply and demand on the real estate market, illustrating these concepts with data on land prices and exchanged surfaces in Zurich over different time periods.