A Study on the Estimation Model of Contract and Receiving Rent Using Asking Rent of Office

Seonghun Min

doi:10.15793/kspr.2013.79..005

This study analyzes the asking, contract and receiving rents using a set of panel data composed of 124 office buildings in Seoul. The empirical result suggests that ① There are significant differences among asking, contract and receiving rents. Asking rent tends to be larger than contract rent during weak market and receiving rent is smaller than others. ② Office stock and GDP are significant explanatory variables of the difference between asking and contract rent and using the variables an estimation model of contract rent using asking rent can be established. There is no significant difference between the estimated contract rent and real value. ③ An estimation model of receiving rent using contract rent can be established based on a distributed-lag model. There was no significant difference between the estimated receiving rent and real value. In sum the fact that contract and receiving rent can be estimated reliably with asking rent was found.

Citation status

KCI Citation Counts (11)
열림/닫힘 버튼
REFERENCES (10)
열림/닫힘 버튼
* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

[journal] 이상경 / 2007 / Scale Economies in the Management of Office Building / 서울도시연구 / 서울연구원 8(3) : 13~28

[journal] 이재우 / 2006 / An Analysis of the Characteristics of Real Estate Returns in Seoul Office Market / 부동산학연구 / 한국부동산분석학회 12(2) : 171~180

[journal] 이창무 / 2009 / An Empirical Analysis on Chonsei to Monthly Rent Conversion Rate in the Apartment Rental Market / 주택연구 / 한국주택학회 17(2) : 213~229

[journal] Brennan, T. / 1984 / Office Rent in the Chicago CBD / AREUEA Journal 12(3) : 243~260

[journal] Cannaday, R / 1984 / Estimation of Market Rent for Office Space / Real Estate Appraiser and Analyst 50 : 67~72

[journal] Clapp, J. / 1980 / The Intrametropolitan Location of Office Activities / Journal of Regional Science 20(3) : 387~399

[journal] Dunse, N / 1998 / A Hedonic Price Model of Office Rents / Journal of Property Valuation & Investment 16(3) : 297~312

[journal] Glascock, J. / 1990 / An Analysis of Office Market Rents: Some Empirical Evidence / AREUEA Journal 18(1) : 105~119

[journal] Rosen, K. T. / 1984 / Toward a Model of the Office Building Sector / AREUEA Journal 12(3) : 261~269

[journal] Wheaton, W. / 1994 / Office Rent Indices and Their Behavior Over Time / Journal of Urban Economics 35 : 121~139

이 논문은 한국연구재단의 지원을 받아 작성되었습니다.

KJC Korea
Journal Central

Statistics

Tools

Sharing

Issue List

Citation status