Urban Focal Points and Design Quality Influence Rents: The Tel Aviv Office Market

Daniel Gat ()

Journal of Real Estate Research, 1998, vol. 16, issue 2, pages 229-247

Abstract: Israel is steadily shifting towards a services-heavy economy. The city of Tel Aviv, which specializes in commercial, business and financial services, is the country’s office-space capital. This study aims to reveal the factors influencing rent levels within Tel Aviv’s expanding office market. The research confirms that important contributors are access to any of three major urban foci and the quality of building design. Lesser contributors are building height and floor area. Age of building and area-wide density of manufacturing are detractors of value. Density of services was originally intended to stand in for face-to-face facilitation. However, its estimation power is disappointing when compared to foci access.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1998
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