Estimating Project-Specific Absorption
AbstractIn performing an absorption analysis for a real estate investment, conventional appraisal approaches assume that space will be absorbed evenly across the market and evenly across the absorption period. These approaches fail to provide an accurate period-by-period absorption schedule for a specific property that reflects the supply and demand conditions of the market as well as specific characteristics of the subject property. The approach proposed in this study provides a simple and explainable model that permits the appraiser to estimate absorption with more accuracy through traditional market comparison techniques and to integrate the analysis of market supply and demand conditions on a period-by-period basis.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 5 (1990)
Issue (Month): 1 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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- John S. Hekman, 1985. "Rental Price Adjustment and Investment in the Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(1), pages 32-47.
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