Boom & Bust Cycle: What Causes It?
In the “Business and Real Estate Cycle: The Kuala Lumpur Office Market” by Siti Almafahaza, Stockholm, 2011 master thesis, the author described the development of Real Estate in Kuala Lumpur that has taken place since 1960’s and how it has changed into a modern city with the impact of industrialization of the economy. The study shows that real estate cycle and business cycle do move in recurring wave-like fluctuations that are in a circular motion.
