Real Estate Economics / L.

Kauškale / Spring 2020

Real Estate Economics

The list of homeworks

Homework 1:

- Task No. 1. (homework). Real Estate, Real Property, Personal Property definitions (1-2,
or more, international, and local versions, for instance, in your country).
- Technical aspects in real estate (e.g. heating, electricity etc.; description (optional))
(preferable volume – 1 page)

Homework 2:

- Important technical aspects in real estate (e.g. heating, electricity etc.; with description
(optional)) or check points (e.g. technical, economic, legal) in renting/buying real estate
(influence price and value of real estate) (volume – 1-2 pages).

-To be familiar with the types of competition (economic focus)

Homework 3:

- To describe the chosen real estate market (real estate prices etc.). Economic and
construction industry development trends can be analyzed optionally (10-20% of work).
The work can be done in the groups (1-4 people). Volume – at least two pages (per
person). Presentation of the conducted task. Term and date of presentation March 4th,
2020.

Homework 4:

- To be familiar with topics - Aggregate Demand on Real Estate Market (demand for real
estate) - definition, demand law on real estate market, price and non-price factors on real
estate market, equilibrium point, elasticity of demand
- To get acknowledged with Standard Guide for Property Condition Assessments: Baseline
Property Condition Assessment Process (an international standard) and/or similar
document(s) (for those students who had questions about checkpoints and technical
condition of real estate – task No 1.).

Homework 5:

- To be familiar with topic –Aggregate Demand on Real Estate Market (demand for real
estate) - definition, demand law on real estate market, price and non-price factors on real
estate market, equilibrium point, elasticity of demand
 Real Estate Economics / L. Kauškale / Spring 2020

Homework 6 (term March 18th):

To be familiar with topics considered during the course:

- Real Estate;
- Real Estate Market;
- Aggregate Supply and Demand on Real Estate Market - definitions, demand and Supply
law on real estate market, price and non-price factors on real estate market, equilibrium
point, elasticity of supply and demand, supply of real estate in short term (graphical view).

Homework 7 (term – March 25th):

 Supply and demand analysis on particular real estate market – more detalised approach to
the analysis of real estate market. Volume – one page. This task can be the continuation
of the previous practical task (Homework No. 3). Term – March 25th.

Homework 8
Reading:
 The Influence of Real Estate Market Cycle on the Development in Latvia. Link to
available pdf:
 https://www.sciencedirect.com/science/article/pii/S1877705813007777
Video: https://www.youtube.com/watch?v=S16GhejlE1c (hypersupply / oversupply –
example

Homework 9 (term – April 1st):

- To analyse one real estate cycle on the example of one country/city. Volume - 1-2 pages
for each student. Main problems, threats, interconnection with development of national
economy.
- For students, who did not make a presentation of previous task, to be ready for
presentation. Presentations should be also sent to Linda.Kauskale@rtu.lv before
Wednesday, April 1st.

Video link Introduction to the State Land Service of Latvia

https://www.youtube.com/watch?v=i2tIBLpPkyo&feature=youtu.b

Homework 10 (term – April 8th):

Practical task - analysis of real estate cycle. To identify the possible

advantages/disadvantages of existing situation. To identify the possible problems and threats
that can be faced by the entrepreneurs operating on real estate market (for public, residential,
office, retail, industrial sectors). To identify possible real estate management problems.

The previous task can be updated and continued.

Volume 1-2 pages. Term – April 8th 12:00.