A hedonic price model of office rents

A hedonic price model of office rents The primary objective of this study is to apply hedonic regression techniques to an office market to identify and quantify the significant contribution of the different attributes to office rents. This technique is widely used in the analysis of housing markets but an extensive literature review reveals little application in commercial property markets. The study analyses a sample of 477 asking rents, together with a series of locational and physical attributes, for the City of Glasgow. The results explain approximately 60 per cent of variation in rents across the city, emphasizing the importance of age and location as principal determinants of rents. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Valuation and Investment Emerald Publishing

A hedonic price model of office rents

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Publisher
Emerald Publishing
Copyright
Copyright © 1998 MCB UP Ltd. All rights reserved.
ISSN
0960-2712
DOI
10.1108/14635789810221760
Publisher site
See Article on Publisher Site

Abstract

The primary objective of this study is to apply hedonic regression techniques to an office market to identify and quantify the significant contribution of the different attributes to office rents. This technique is widely used in the analysis of housing markets but an extensive literature review reveals little application in commercial property markets. The study analyses a sample of 477 asking rents, together with a series of locational and physical attributes, for the City of Glasgow. The results explain approximately 60 per cent of variation in rents across the city, emphasizing the importance of age and location as principal determinants of rents.

Journal

Journal of Property Valuation and InvestmentEmerald Publishing

Published: Aug 1, 1998

Keywords: Modelling; Offices; Rent; Valuation

References

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