SIFR Research Report Series, Institute for Financial Research
Term Structures in the Office Rental Market in Stockholm
() and Bo Söderberg
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; (follow links to similar papers)
JEL-Codes: R00; (follow links to similar papers)
26 pages, April 10, 2002
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