a You are given the following information about the Limassol District: Number of households 2022: 148,100 Total residential stock 2022: 159,059 units Based on the above data, calculate the expected gap between demand and supply in number of housing units in Limassol in 2022. Show clearly and explain any calculations and/or assumptions you make to support your answer. Also, explain the state of the market represented by the result of your calculation (oversupply, balance, excess demand) and how house prices should move in 2022 as a result of this situation. b. Based on the figures given in (a) what will be the vacancy rate in the Limassol housing market. in 20222 Clearly show and explain your calculations.

a You are given the following information about the Limassol District: Number of households 2022: 148,100 Total residential stock 2022: 159,059 units Based on the above data, calculate the expected gap between demand and supply in number of housing units in Limassol in 2022. Show clearly and explain any calculations and/or assumptions you make to support your answer. Also, explain the state of the market represented by the result of your calculation (oversupply, balance, excess demand) and how house prices should move in 2022 as a result of this situation. b. Based on the figures given in (a) what will be the vacancy rate in the Limassol housing market. in 20222 Clearly show and explain your calculations.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 14PAE

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