Change search
ReferencesLink to record
Permanent link

Direct link
Implicit forward rents as predictors of future rents
KTH, Superseded Departments, Real Estate and Construction Management.ORCID iD: 0000-0001-5574-0522
KTH, Superseded Departments, Infrastructure.
2004 (English)In: Real estate economics (Print), ISSN 1080-8620, E-ISSN 1540-6229, Vol. 32, no 2, 183-215 p.Article in journal (Refereed) Published
Abstract [en]

This paper investigates the relation between the term structure of rents and future spot rents. A rich database of office rental agreements for various maturities is used to estimate the term structure of rents, and from this structure implicit forward rents are extracted. The data pertain to commercial properties in the three largest Swedish cities for the period 1998-2002. A positive relation between forward and spot rents is found in some regions, but forward rents underestimate future rent levels. Another contribution of the paper lies in the area of rental index construction. We provide evidence that rental indices should not only be quality constant (i.e., control for characteristics), but should also be maturity constant.

Place, publisher, year, edition, pages
2004. Vol. 32, no 2, 183-215 p.
Keyword [en]
office rent, chicago cbd, contracts, rates
National Category
Economics and Business
URN: urn:nbn:se:kth:diva-23455DOI: 10.1111/j.1080-8620.2004.00089.xISI: 000221701100002ScopusID: 2-s2.0-3042573603OAI: diva2:342153
QC 20100525 QC 20111020Available from: 2010-08-10 Created: 2010-08-10 Last updated: 2011-10-27Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full textScopus

Search in DiVA

By author/editor
Gunnelin, ÅkeSöderberg, Bo
By organisation
Real Estate and Construction ManagementInfrastructure
In the same journal
Real estate economics (Print)
Economics and Business

Search outside of DiVA

GoogleGoogle Scholar
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 40 hits
ReferencesLink to record
Permanent link

Direct link