Can space syntax help us in understanding the intraurban office rent pattern? Accessibility and rents in downtown Stockholm

Author
Enstroem, Rickard
Netzell, Olof
Faculty Advisor
Date
2008
Keywords
hedonic model , office space , rent , space syntax , Stockholm , translog
Abstract (summary)
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.
Publication Information
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
DOI
Notes
Item Type
Article
Language
English
Rights
All Rights Reserved