D07 Land Economics

As verbatim from “Rules and Guidelines to Part I & II Estate Agent Examination (2nd Edition – 1 Jan, 2005)”.

Characteristics and features of the property market and the price mechanism.

Impact of economic, legal and physical factors on landed properties.

Allocation of landed resources, theories of land rent and values, demand and supply of land, economic returns such as income and yields from properties.

Locational theory, historical development and current application, locational requirements of principal land uses such as retail, commercial, industrial and housing. General and special accessibility.

Economics of development and redevelopment of landed property. Urban economic problems such as housing, transportation issues. Role of intermediaries such as estate agents, valuers, and developers.