This article focuses on the offices of the estate agents as effective and efficient office can play an important role in the succcess of this business. The problems which are important for researchers are common problems, even though research in the different countries is at various stages of development. Learning from the experiences of countries which are in the forefront in specific areas is of essential importance.
This article confines itself to the core business of the real estate studies. The activities of academic researchers and lecturers lie in the field of applied science. The relevance for the real world outside is of essential importance. Work at the universities is more effective with the active participation of the real estate sector. The interaction between theory and practice is indispensable.
Real estate has an important place in the world. Gross investments in real estate and infrastructure amount annually to approximately 50 per cent of all gross investments.
The replacement value of all real estate above and below the ground including infrastructure is about four times national income and five times the national debt. Most of our national capital is therefore tied up in real estate. Maintaining the value of the existing stock and managing the expansion of investment optimally are two important tasks. Compared with the value of all the shares and loans in the world, real estate is much more important.
Data from financial markets are reasonably reliable but the stock of real estate and certainly its value can only be determined on the basis of estimates.
The article concentrates on the following issues:
* investment in real estate (direct or indirect);
* the performance of real estate as a means of investment and indices;
* valuation issues;
* the real estate cycle;
* real estate education.
The performance of...