Real Estate Market
Characteristics
Physical
Economics
High Transaction Costs
illiquid
Supply Inelastic
Long Transaciton Time
intervention of gov
Irrational participants
Imperfect Information
Heterogeneous
Costs in property management
Indivisible
Immobile
Durable
Real Estate as Investment
Capital Growth
Hedge against inflation
High Financial leverage
Estate building
Tax Benefits
Singapore no capital gains tax
REITs
Characteristics
Decentralised market
Data Inefficiency
No real time data
Imperfect market
Supply
GLS
Change plot ratio
Private land sales
Demand
Political stability
Government Policies
Economic growth
Interst rate
Social factor