Office rent determinants: a hedonic panel analysis


Autoria(s): Fuerst, Franz
Data(s)

2008

Resumo

It has been frequently observed that office markets are subject to particularly high fluctuations in rents and vacancy levels, thus exposing real estate investors to considerable risk regarding expected future income streams. This paper analyzes the determinants of office rents and their variability over time and across sub-markets to gain insight into the rent price formation and its stability across space and over time. No support is found for the single-market hypothesis which states that arbitrage opportunities effectively align real estate pricing schemes in various parts of city. Instead, the results suggest that the importance of hedonic pricing factors varies both over time and across submarkets.

Formato

text

Identificador

http://centaur.reading.ac.uk/27011/1/1208.pdf

Fuerst, F. <http://centaur.reading.ac.uk/view/creators/90002019.html>, (2008) Office rent determinants: a hedonic panel analysis. Working Papers in Real Estate & Planning . 12/08. Working Paper. University of Reading, Reading. pp48.

Idioma(s)

en

Publicador

University of Reading

Relação

http://centaur.reading.ac.uk/27011/

creatorInternal Fuerst, Franz

Tipo

Report

NonPeerReviewed