Question1,Location theory, static and dynamic view of market value of land, allocation and pricing.Key point ? Role of Agglomeration ? Theoretical Explanations of Location Decisions ? Market Analysis Model ? Alternative Theories of Industrial location ? Locational Requirements of Office Users ? Theoretical Explanation of Retailers ? The Spatial Structure of Retail Property MarketsQuestion2,Why is it that values typically display a cyclical pattern? Key point: Explain business cycle Rent follow GDP booms Time and land Inelastic Change stockQuestion3,Explain market efficiency and the factors that affect the efficient operation of property market? Key point? High transaction costs ? Indivisibility ? Immobility ? Durability ? Inelastic supply in SR ? Heterogeneity ? Externalities ? Government intervention ? Irrationality of market participants ? No perfect information Each question give the example. :
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