Identifying lag relationships in the office market with a turning point method during the Global Financial Crisis

Áron Horváth and Gábor Révész

ERES from European Real Estate Society (ERES)

Abstract: Lead-lag relationships among office market indicators are essential to discover for both theoretical and practical reasons. This paper identifies an approximately one year lag between office market yield and new supply; a somewhat shorter distance of rents and yields is revealed. According to the concluded calculations, vacancy and take-up respond swifter to external shocks. We use the crisis as an identifier, and detect reactions of turning points of the time series in a worldwide database provided by DTZ.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-07-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2015_90

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