A hedonic price model of office rents
Journal of Property Valuation and Investment
ISSN: 0960-2712
Article publication date: 1 August 1998
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.
Keywords
Citation
Dunse, N. and Jones, C. (1998), "A hedonic price model of office rents", Journal of Property Valuation and Investment, Vol. 16 No. 3, pp. 297-312. https://doi.org/10.1108/14635789810221760
Publisher
:MCB UP Ltd
Copyright © 1998, MCB UP Limited