Term structures in the office rental market in Stockholm
2003 (English)In: Journal of real estate finance and economics, ISSN 0895-5638, E-ISSN 1573-045X, Vol. 26, no 3-Feb, 241-265 p.Article in journal (Refereed) Published
This paper contains an empirical study of the rental term structure in a property market that included a dramatic boom and bust cycle. The study is applied to office leases in commercial properties located in Stockholm CBD, Sweden. The time period under study is 1977-1991. The number of observations (lease contracts) that we were able to make full use of in the regression analyses is n = 861. For seven out of fifteen years studied, a significant term structure was observed. The estimated hedonic rent equation was also used to construct an office rental index.
Place, publisher, year, edition, pages
2003. Vol. 26, no 3-Feb, 241-265 p.
rental market, office rent, lease term, term structure, property market, property cycle, rental index, price adjustment, chicago cbd, contracts, indexes
IdentifiersURN: urn:nbn:se:kth:diva-22358ISI: 000181767300007OAI: oai:DiVA.org:kth-22358DiVA: diva2:341056
QC 201005252010-08-102010-08-10Bibliographically approved