The London office market is one of the most researched market in the world owing both to size and data availability. Prior work modelling office market rental adjustment was based on only two decades of data that were dominated by less than an incomplete real estate cycle (Hendershott et al, 1999; 2002;...

ERES:conference

Real estate research has a long and extensive history of analyzing rent dynamics. Due to data availability constraints the retail market has been the least researched segment of main real estate sectors, despite its import role within the real estate universe (in the US for example the overall...

This paper presents rent models for retail, office and industrial property in the U.K. Panel data are used covering 11 regions for 29 years, enabling us to overcome the limitations of a relatively short time series. We use an Error Correction Model (ECM) framework to estimate long run...

ERES:conference

This paper considers the processes of appraisal smoothing within the direct real estate market and of price discovery between the indirect and direct real estate markets. Appraisal smoothing involves the optimum combination of past and current information, the latter observed with an error....

ERES:conference

ERES:conference

ERES:conference

The hedonic price models on the office sector demonstrate the existence of a link between the rent and the vacancy of the area (Wheaton and Torto, 1988), the characteristics of the building (Clapp 1980) and the characteristics of the area (Gardiner and Henneberry, 1988). The role of each feature...