By Simon Guy, John Hanneberry
This booklet provides for the 1st time an interdisciplinary view of estate improvement and estate builders. Fourteen contributor are introduced jointly right here from prime researchers and revered practitioners, together with estate analysts, economists, geographers, planners and sociologists.
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Additional info for Development and Developers: Perspectives on Property
The objective is to provide a conceptual sketch of what a contemporary institutional framework for the analysis of development activity might look like, with changing entrepreneurial roles as a key focus for understanding the characteristics of institutional change in the market and their implications for market structure and process. The market context of property development activity 21 Using the British office market as an indicative case study, the chapter outlines the changing institutional context of office development over the last 50 years.
For example, if development activity generates oversupply and falling values, market attitudes to investing in, or lending against, property may be expected to change. Turning to property market organisations, it is clear that all the actors identified in Fig. 2 have an impact on property development. In some cases it is the indirect act of expressing demand for space or capital assets that, through its impact on property price, may establish the conditions for profitable development. In other cases it is the direct act of taking the entrepreneurial initiative to promote development or to supply services vital to the development process.
Social institutions . economic institutions . legal institutions Impetus for development The property market as institution . market (and non-market aspects) . decentralised and informal . legal and conventional aspects of property rights . legal and conventional aspects of land use and development Mediator/facilitator of development activity Property market organisations . users . investors . specialist developers . constructors . property service providers . financial service providers . professional bodies .