The book explains why the real estate and construction industries are organised in the ways they are and then relates those characteristics to long-term market behaviour. It covers market dynamics - supply and demand; the interaction of property development and construction – and examines institutions and market structures.

Real estate development and construction tend to be separate subjects in the literature. But construction is an inevitable part of any property development process and so has a major influence on the institutional structure of development. Markets & Institutions in Real Estate & Construction argues that these structures are best explained as a series of modern economic theories, based on competition and current production technologies.

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• offers focus and breadth, and deal with controversial debates
  
• economic arguments made accessible through a non-technical writing style
  
• presents long-run international comparison of property market behaviour
  
• reflects internationalisation of property and construction markets

• Markets & Institutions in Real Estate & Construction 6
  • Contents 10
  • 1 Prologue 12
  • 2 An introduction to the analysis of markets and institutions in real estate and construction 17
  • 3 House price cycles: evidence from recent European experience 44
  • 4 Improving housing markets 61
  • 5 Restructuring housing provision in Central and Eastern Europe 80
  • 6 International comparisons of estate agency/real estate brokerage services 101
  • 7 Spatial reach in commercial and residential real estate brokerage 116
  • 8 Financial services, mortgage markets and real estate brokerage: an international survey 136
  • 9 International differences in the housebuilding industry 157
  • 10 The influence of size economies and planning regulations on the housebuilding industry 183
  • 11 Construction and real estate professions and practices 206
  • 12 The distinctiveness of large construction firms 226
  • 13 Multi-agent governance in property-led urban regeneration 241