Fuerst, Franz (2007): Office Rent Determinants: A Hedonic Panel Analysis.
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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 of a city using empirical data from New York City to gain additional insight into the rent price formation and its stability across space and over time.
|Item Type:||MPRA Paper|
|Original Title:||Office Rent Determinants: A Hedonic Panel Analysis|
|Keywords:||Real estate, office market, hedonic analysis, panel analysis, market fragmentation, efficient markets, spatiotemporal models|
|Subjects:||C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C51 - Model Construction and Estimation
G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency ; Event Studies ; Insider Trading
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity
C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location > R33 - Nonagricultural and Nonresidential Real Estate Markets
|Depositing User:||Franz Fuerst|
|Date Deposited:||08. Nov 2008 04:41|
|Last Modified:||12. Feb 2013 16:35|
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