21st Century Real Estate Series Textbooks Real Estate Economics

Author: Xie Jingrong et al.
Publisher:
Publish Date: 2003-01-01
Features: Real Estate Economics is a foundational course for majors in real estate development, operation, and management, primarily focusing on the theoretical foundations of real estate operations and management. Without solid and comprehensive knowledge and theories in real estate economics, it is difficult to navigate the changes in the macro economy and real estate market, thereby achieving success in real estate operations or effectively regulating the real estate market. Therefore, it is crucial to study and flexibly apply real estate economics. Currently, there are many versions of "Real Estate Economics," and from the perspective of content, they can be roughly divided into two categories: One category treats real estate economics as an introductory course for real estate operation and management majors, covering not only the basic knowledge and theories of real estate economics but also including content such as real estate development, operation, investment, finance, property management, and real estate management, similar to an introductory course in real estate operation and management. Most textbooks on real estate economics follow this model. The other category considers real estate economics as a foundational course for real estate operation and management majors, primarily focusing on the attributes of real estate, the economic laws of real estate, and the basic theories of real estate. However, textbooks of this type are not very common. The authors of this book believe that real estate economics is a science that studies the laws of real estate economic operation and the development laws of the real estate industry based on the attributes of real estate. As a branch of economics, real estate economics should use the fundamental theories of economics to study the laws of the real estate market and the development laws of the real estate industry. Microeconomic theory is the fundamental theory for the operation and transactions of the real estate market, while macroeconomic theory serves as the foundation for coordinating the relationship between the real estate industry and the national economy, as well as for macro-control policies and measures in the real estate market. Since the attributes of real estate determine the attributes of the real estate industry, real estate economics differs from other industrial economics in many aspects, such as rent theory, location theory, and the regional nature of real estate. This book starts with the attributes of real estate, explaining its natural, economic, and social attributes. It focuses on the economic attributes of real estate characterized by value and price, as well as the social attributes of real estate characterized by ownership and property rights. The real estate market, its operational laws, management systems, and control policies are also introduced as key points in the book. Additionally, the relationship between the real estate industry and other industries, as well as the development laws of the real estate industry, will be detailed in the book.