Term Structures in the Office Rental Market in Stockholm |
| |
Authors: | Gunnelin Åke Söderberg Bo |
| |
Affiliation: | (1) Stockholm Institute for Financial Research, Wallingatan 11, 111 60 Stockholm, Sweden;(2) Royal Institute of Technology, 100 44 Stockholm, Sweden |
| |
Abstract: | This paper contains an empirical study of the rental term structure in a property market that included a dramatic boom and bust cycle. The study is applied to office leases in commercial properties located in Stockholm CBD, Sweden. The time period under study is 1977–1991. The number of observations (lease contracts) that we were able to make full use of in the regression analyses is n=861. For seven out of fifteen years studied, a significant term structure was observed. The estimated hedonic rent equation was also used to construct an office rental index. |
| |
Keywords: | rental market office rent lease term term structure property market property cycle rental index |
本文献已被 SpringerLink 等数据库收录! |