Adjustment In Property Space Markets
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| Author | : Peter Englund |
| Publisher | : |
| Total Pages | : 48 |
| Release | : 2005 |
| Genre | : Offices |
| ISBN | : |
Markets for property space adjust only gradually because tenants are constrained by long-term leases and landlords and tenants face transactions and information costs. Not only do rents adjust slowly, but space occupancy may differ from demand at current rent, giving rise to "hidden vacancies". We estimate the joint dynamics of office rents and vacancies using an error-correction model using a new lease rent series for Stockholm offices 1977--2002 estimated on 2,500 leases. It takes 5-10 years for the market to adjust to a shock. In a model simulation of a positive employment shock open vacancies fall from the natural level of 7 percent to below 4 percent, while hidden vacancies increase by about as much. Most of the variation in hidden vacancies over time is explained by the difference between demand at current and average rent on existing leases, which we calculate using data on contract lease length.
| Author | : Michael Ball |
| Publisher | : Routledge |
| Total Pages | : 422 |
| Release | : 2012-10-12 |
| Genre | : Business & Economics |
| ISBN | : 113474966X |
This new text provides a rigorous analysis of real estate markets. Three main sections cover: microeconomics of property markets the macroeconomics of commercial property the financial economics of property Global empirical examples illustrate the theories and issues. This often complex area is made accessible: each chapter contains a boxed summary and questions for self-testing or discussion.
| Author | : Rena Mourouzi-Sivitanidou |
| Publisher | : Routledge |
| Total Pages | : 524 |
| Release | : 2020-08-06 |
| Genre | : Architecture |
| ISBN | : 100006316X |
Market Analysis for Real Estate is a comprehensive introduction to how real estate markets work and the analytical tools and techniques that can be used to identify and interpret market signals. The markets for space and varied property assets, including residential, office, retail, and industrial, are presented, analyzed, and integrated into a complete understanding of the role of real estate markets within the workings of contemporary urban economies. Unlike other books on market analysis, the economic and financial theory in this book is rigorous and well integrated with the specifics of the real estate market. Furthermore, it is thoroughly explained as it assumes no previous coursework in economics or finance on the part of the reader. The theoretical discussion is backed up with numerous real estate case study examples and problems, which are presented throughout the text to assist both student and teacher. Including discussion questions, exercises, several web links, and online slides, this textbook is suitable for use on a variety of degree programs in real estate, finance, business, planning, and economics at undergraduate and MSc/MBA level. It is also a useful primer for professionals in these disciplines.
| Author | : Maria Ibanez |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
This paper is concerned with the market rental rate for space offered by commercial property and how that rental rate evolves over time. Rental rates reflect the value of the services provided by the property and can have a significant impact on the ability of its owners to make monthly debt obligations. We investigate commercial property rent dynamics for 34 large metropolitan areas in the U.S. The dynamics are studies from the second quarter of 1990 through the second quarter of 2009 and the results are compared across four property types or uses (office, industrial, flex, and retail). There is substantial heterogeneity in both the long and short run responses to changing demand and supply conditions. In general, the office market is the slowest to adjust back towards equilibrium while industrial and flex markets adjust back towards equilibrium while industrial and flex markets adjust back to the long run equilibrium very quickly. For industrial and office types, the speeds of adjustment is substantially faster within quality segments and is strongest for grade A properties.
| Author | : George H. Lentz |
| Publisher | : |
| Total Pages | : |
| Release | : 1999 |
| Genre | : |
| ISBN | : |
This paper contributes a theoretical investigation of real estate supply adjustments in the commercial real estate market. Simple theoretical linkages between the goods market (the demand side) and the space market (the supply side) are developed and then used to explain the optimal supply decisions of space producers. Propositions relating to how space production decisions are made under conditions of demand certainty, demand uncertainty and free entry are derived from optimization models. Under demand certainty, the adjustment of space supply is shown to be affected by whether an exogenous shock is perceived as mild or disastrous. Under demand uncertainty, construction based on pent-up demand is shown to be suboptimal.
| Author | : International Monetary Fund. Asia and Pacific Dept |
| Publisher | : International Monetary Fund |
| Total Pages | : 120 |
| Release | : 2015-04-27 |
| Genre | : Business & Economics |
| ISBN | : 1475568533 |
Asia and the Pacific remains the global growth leader, albeit with a moderated pace of expansion since the global financial crisis. There is considerable diversity across the region: growth in China is slowing to a more sustainable pace, while in Japan a pickup in growth is expected. Non-oil commodity exporters have experienced sharply falling prices, while net importers have benefited from large changes in terms of trade. The April 2015 Regional Economic Outlook examines the volatility risks from this regional diversity, as well as Asia and Pacific’s role in global value chains and the factors affecting financial integration in Asia.
| Author | : Brian Dollery |
| Publisher | : Springer Nature |
| Total Pages | : 330 |
| Release | : 2020-06-01 |
| Genre | : Business & Economics |
| ISBN | : 3030367258 |
This book provides a comprehensive treatment of traditional as well as newer topics in local public, fiscal and financial management principles and practices. It covers traditional topics of local public management, local revenue administration with special emphasis on property tax administration, local budgeting and accounting, and methods of capital finance. Newer topics covered include political economy of local government, fiscal rules for local fiscal discipline, local government integrity and performance accountability, and municipal mergers and inter-municipal cooperation based upon relative importance and political, fiscal and administrative autonomy of local governments. The treatment is non-technical and suitable for a wide variety of audiences including scholars, instructors, students, policy advisors, and practitioners.
| Author | : Grant Ian Thrall |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 274 |
| Release | : 2002 |
| Genre | : Commercial geography |
| ISBN | : 0195076362 |
This work focuses on integrating land-use location science with the technology of geographic information systems (GIS). The text describes the basic principles of location decision and the means for applying them in order to improve the real estate decision.
| Author | : Richard Miller Bird |
| Publisher | : World Bank Publications |
| Total Pages | : 280 |
| Release | : 2006-01-01 |
| Genre | : Political Science |
| ISBN | : 0821365568 |
This book addresses a variety of issues relating to intergovernmental finance and the provision and financing of local services including budgeting and financial management, the institutional framework for the conduct of intergovernmental relations, appropriate methods of service delivery in metropolitan agglomerations and remote rural areas, local government enterprises, user charges, property taxes, income and value-added taxes, natural resource taxes, and local business taxes. Throughout, the authors draw on experience both in Canada and in other decentralized countries and consider to vary.
| Author | : Sebastian Howell |
| Publisher | : Atlantic Publishing Company |
| Total Pages | : 290 |
| Release | : 2006 |
| Genre | : Business & Economics |
| ISBN | : 0910627681 |
For anyone interested in becoming involved in the industry, this guide to flipping property and using it as an investment tool explains the procedure, the roles of those involved, legal aspects, financing and loans, finding property, renovation, and how to show and sell a house. Also covered are timelines, tools needed, negotiation, and sample forms. A lengthy glossary is provided. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com).
