地价高的结构性原因是什么?
The answer comes from the concept of "derived demand".
Put it simple, the demand of land is derived, becoz we need land for food (agicultrual), and residental use.
Indeed, land would be of no value if a tiny piece of land could produce all the flat (imagine a infinity high building on a spot of land)... in the world there are many "spots" and thus infinity supply of the flat would be resulted.
In this regard, law of diminishing marginal productivity (LDMP) empirically asserts that the demand of land would be derived from the huge demand of food production, residental and alternative uses.
You may find that sea-view flat gets skyrocket prices, however, the fundamental reason is that, the derived demand of that piece of land (used to build the flat up) was high.
By basic demand-and-supply analysis, this leads to quantity transcated price is high.
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