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Elasticity of property market

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Marketing and Real Estate

Marketing and Real Estate

Published in: Real Estate

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  • 1. Elasticity of property market
    PREPARED BY :
    JIMIE ANAK ALONG
    MOHAMAD HAIZAM BIN MOHAMED SARAF
    HILAL AZRUL BIN MOHD SHADAD
    AHMAD IKHWAN BIN SHAHRUDDIN
    MOHD ALIFF BIN HAJI MOHD HASSAN HILMI
  • 2. DEFINITION
    Price elasticity of demand - measurement of the sensitivity or responsiveness of the quantity demanded due to the change of its price
    Price elasticity of supply - measures the sensitivity and responsiveness of the quantity which is supplied due to a change in the price of a product or a service
    * applying same concept, differs in degree
    of elasticity and determinants of price
    elasticity
  • 3. demand
    • ELASTIC DEMAND
    <∆ P , >∆ Q
  • 4.
    • INELASTIC DEMAND
    >∆ P , <∆ Q
  • 5.
    • UNITARY ELASTIC DEMAND
    ∆ P = ∆ Q
  • 6. SUPPLY
    • ELASTIC SUPPLY
    <∆ P , >∆ Q
  • 7.
    • INELASTIC SUPPLY
    >∆ P , <∆ Q
  • 8.
    • UNITARY ELASTIC SUPPLY
    ∆ P = ∆ Q
  • 9. DETERMINANTS OF PRICE ELASTICITY OF DEMAND & SUPPLY
    DEMAND
    EXISTENCE OF SUBSITUTES
    PROPORTION OF THE EXPENDITURE ON A PROPERTY
    INCOME LEVEL
    FREQUENTLY PURCHASED PROPERTY
    SUPPLY
    TECHNOLOGICAL IMPROVEMENTS
    PERISHABILITY
    AVAILABILITY & MOBILITY OF FACTORS OF PRODUCTION
  • 10. DIFFERENCES BETWEEN PROPERTY MARKET & GENERAL MARKET
    TIME PERIOD
    CAPITAL & TRANSACTION COST
    ALTERNATIVE & OPTIONS
    DURABILITY