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

Min, Seonghun 1

1수원대학교

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ABSTRACT

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.

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* References for papers published after 2023 are currently being built.

This paper was written with support from the National Research Foundation of Korea.
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