Reproduce and interpret theories and views on the spatial-economic development of cities and the functioning of urban land and real estate markets.
Reproduce and interpret theories on real estate economics, dealing with investment decisions and real estate development.
Apply economic reasoning to analyze current issues in the development of urban areas on various spatial levels: from region to neighborhood to dwelling.
Apply theories, concepts and research methods from contemporary literature to practical examples.
In the Netherlands new construction is currently restricted by the so-called ‘Nitrogen crisis’. This is explained in this video by the CBS (Statistics Netherlands) (Links to an external site.). Please note that while the video is in Dutch, the video is subtitled (closed captions) in English. You can activate the subtitles by clicking on the (CC) button. The subtitles have been checked by the staff and provide the relevant content needed for the exam.
Write an essay to assess the impact on the Dutch market for housing of the ‘Nitrogen crisis’.
Assignment requirements:
Briefly summarize the characteristics of the housing market of the Netherlands.
Describe the restrictions imposed by the nitrogen crisis on the market for housing in the Netherlands. Consider restrictions for consumers of space, investors and developers.
Provide a well-argued overview of the consequences of the restrictions found under 2.
Use the theories presented in class; as a minimum link your overview to the DiPasquale & Wheaton framework and/or the valuation methodologies of the assignment.
Distinguish between short- and long-term impact of these consequences.
End your essay with advice on the following:
What advice can you give investors (owners) and users (renters)?
Which measures do you advise the national and local government to take, if any?
Illustrate your essay with examples (from your own experience and from literature).
Guidelines
No more than 2000 words (excluding references, figures, graphs, tables or other illustrations).
Supported with references to material from the course (lecture notes, papers, in class assignments, the assignment).
Supported with other sources, properly referenced, and including peer-reviewed journal articles (more than 3).
Formatted as an academic essay. For inspiration see: https://writingcenter.fas.harvard.edu/pages/essay-structure