RICS: Property economics: growth theory and valuation of sustainable development options
Published May 2005
The diversity of the topics discussed under the heading of sustainable development contributes to the impression that it is a vague concept. Focusing on sustainable development in association with measures of lifestyle and welfare as a process that treats property as a resource which is valued in a manner such that consumption of present users does not reduce the stock of property available for future consumers enables a parsimonious and positive economic construction of one aspect of sustainability.
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