Beyond natural vacancy: evidencing vacancy throughout market segments

Kevin Muldoon-Smith, Paul Greenhalgh and Malcolm Frodsham

ERES from European Real Estate Society (ERES)

Abstract: Commercial real estate vacancy is a key indicator of property market efficiency, economic performance and urban resilience. However, there has been little conceptual reflection into the abstract notion of vacancy beyond binary distinctions of natural and structural vacancy. Although useful simplifying meta-concepts, neither accounts for the internal complexity and imperfection that permeates real commercial property markets. In response, this paper builds upon a conceptual framework that describes vacancy across the commercial real estate building life-cycle – from initial construction to final demolition and redevelopment. It substantiates the vacancy typology with existing data sets published by government organisations and market information. The originality of the research rests in its utility as the first known evidence based holistic examination of commercial real estate vacancy beyond that of an abstract economic factor.

Keywords: Commercial; life-cycle; Natural vacancy; Resilience; Structural vacancy (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-01-01
New Economics Papers: this item is included in nep-ure
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2019-178 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2019_178

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().