Can space syntax help us in understanding the intraurban office rent pattern? Accessibility and rents in downtown Stockholm
hedonic model, office space, rent, space syntax, Stockholm, translog
The effect of accessibility upon rent is investigated for office properties located in Downtown Stockholm. Starting from the firm’s cost minimization problem, a translog hedonic model is derived. The results suggest the model has good predictive power in explaining the variation in the log of the rent. A negative rent gradient is obtained with a base approximately 90 m from the postulated focal point. It appears as if Space Syntax adds important information to the understanding of the intraurban office rent pattern.
Enstroem, R. & Netzell, O. (2008). Can space syntax help us in understanding the intraurban office rent pattern? Accessibility and rents in downtown Stockholm. Journal of Real Estate Finance and Economics, 36(3), 289–305. doi:10.1007/s11146-007-9054-6
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