Le fonctionnement des marchés de bureaux: le cas de l'agglomération Lilloise

Sabine Kazmierczak and Sonia Paty

Revue d'économie régionale et urbaine, 2003, vol. juillet, issue 3, 419-440

Abstract: In this article, we first focus on a descriptive analysis of the office market in the city of Lille. Then we estimate three major equations explaining supply, demand and rental price adjustments. We observe that risky promotion projects have been replaced by pre-leases. As a consequence, new office supply does not depend any more on a vacancy rate but on a stock exchange indicator. Office demand is determined by tertiary employment and rental prices. The latter depends on its level during the past quarter and on supply and demand factors. Classification JEL : R290.

Keywords: office markets; property cycles; investment choice (search for similar items in EconPapers)
JEL-codes: R29 (search for similar items in EconPapers)
Date: 2003
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