STOCK MARKET MOVEMENTS AND THE OFFICE MARKET: A EUROPEAN ANALYSIS

Marcus Cieleback

ERES from European Real Estate Society (ERES)

Abstract: The stock market is often seen as a leading indicator for the real economic activity. As the office market movements are influenced by and lagging the development of real economic activity, this paper analyzes if the stock market can help to predict the movement of prime rents in European office markets. The analysis is conducted for several major European office markets using different stock market indices. The analysis shows, that the influence differs considerably between the indices used and between the office markets, depending on their user structure and international importance.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2006-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2006_161

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