Term Structures in the Office Rental Market in Stockholm

Åke Gunnelin () and Bo Söderberg ()
Additional contact information
Åke Gunnelin: Swedish Institute for Financial Research, Postal: Saltmätargatan 19A, SE-113 59 Stockholm, Sweden
Bo Söderberg: Royal institute of Technology, Postal: SE- 100 44 Stockholm, Sweden, http://www.kth.se

No 6, SIFR Research Report Series from Institute for Financial Research

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 (search for similar items in EconPapers)
JEL-codes: R00 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2002-04-10
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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