The module starts with an overview of the characteristics of the real estate markets, followed by
the detailed discussion on the four quadrant model, which explains the linkage between the space
and asset markets. The course then focuses on the fundamentals of urban economics, including
topics on agglomeration economies, the economic growth model, the bid rent theory and central
place theory. The space market is then explained in more details through the evaluation of the
effectiveness of regulations and planning in land use and real estate developments. The course
finishes with a review of the cyclical nature of the real estate markets and rent forecasting.