High dwelling vacancy rate and high prices of housing in Malta: A mediterranean phenomenon

Current data from South European countries, especially Malta, indicates the existence of some contradictory forces in the housing market that defy the law of supply and demand and require explanation. In a ‘normal’ housing market, it can be expected that a high dwelling vacancy rate would help keep down the price of housing. In Malta, however,...

Strategic urban projects in Amsterdam and New York: Incomplete contracts and good faith in different legal systems

Contracts between local government and private investment agencies play an important role in strategic urban projects. Real estate cycles provide only a narrow window of opportunity within which to draft such contracts. A legal system should therefore not impede the possibility of reaching an agreement quickly; instead, it should facilitate...