The Determinants of Office Rents and Yields: The International Evidence (2018)
AuthorsBialkowski, J., Titman S, Twite Gshow all
Monocentric urban models predict that office rents will be higher in larger and more prosperous cities with better transport and stronger agglomeration benefits. In addition, rental yields should be lower in growing cities when the supply of new office space is more constrained and the supply of capital is less constrained. We present evidence that is generally consistent with these theories.
KeywordsGlobal real estate market; Capitalization rate; Office rental yield; Office rental rates; Financial centres; Public Transport
ANZSRC Fields of Research15 - Commerce, Management, Tourism and Services::1504 - Commercial Services::150403 - Real Estate and Valuation Services
15 - Commerce, Management, Tourism and Services::1505 - Marketing::150507 - Pricing (incl. Consumer Value Estimation)