Office Rent Determinants: A Hedonic Panel Analysis

Franz Fuerst

MPRA Paper from University Library of Munich, Germany

Abstract: It has been frequently observed that office markets are subject to particularly high fluctuations in rents and vacancy levels, thus exposing real estate investors to considerable risk regarding expected future income streams. This paper analyzes the determinants of office rents and their variability over time and across sub-markets of a city using empirical data from New York City to gain additional insight into the rent price formation and its stability across space and over time.

Keywords: Real estate; office market; hedonic analysis; panel analysis; market fragmentation; efficient markets; spatiotemporal models (search for similar items in EconPapers)
JEL-codes: C33 C51 G14 R12 R33 (search for similar items in EconPapers)
Date: 2007-10
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https://mpra.ub.uni-muenchen.de/11445/1/MPRA_paper_11445.pdf original version (application/pdf)

Related works:
Working Paper: Office Rent Determinants: a Hedonic Panel Analysis (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11445

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