Office Rent Determinants During Market Decline and Recovery

Posted: 1 Feb 2001

See all articles by Barrett A. Slade

Barrett A. Slade

Brigham Young University; Independent

Abstract

This article empirically examines office rent determinants in distinct periods of a market cycle. The study uses a dataset of office properties located in a large metropolitan area and spanning a six-year period. During this period, office rents experienced a significant decline and recovery. A time-varying parameter rent index identifies three distinct periods of the cycle: decline, trough and recovery. Tests of structural change conclude that market participants value the determinants of office rents differently during the periods. A microexamination of each rent determinant over the periods of the market cycle provides a greater understanding of how rents vary over time and the factors that influence them.

Suggested Citation

Slade, Barrett A. and Slade, Barrett A., Office Rent Determinants During Market Decline and Recovery. Available at SSRN: https://ssrn.com/abstract=241028

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