Rental Concessions and Property Values
AbstractThis paper examines apartment rental concessions and their effect on property values through apartment rent and occupancy rates. A simultaneous equation model is used to estimate rent and occupancy equations in linear, semilog, and logged form. The results show that rental concessions have a positive effect on both rent and occupancy rates. This would indicate that concessions have a positive effect on property values since higher capitalized value should follow. The results also reveal that various amenities and services provided by apartment units have significant effects on rent.
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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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- Richard V. Butler, 1982. "The Specification of Hedonic Indexes for Urban Housing," Land Economics, University of Wisconsin Press, vol. 58(1), pages 96-108.
- James R. Frew & G. Donald Jud & Daniel T. Winkler, 1990. "Atypicalities and Apartment Rent Concessions," Journal of Real Estate Research, American Real Estate Society, vol. 5(2), pages 195-202.
- Fuerst, Franz & McAllister, Patrick, 2009.
"An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates,"
15799, University Library of Munich, Germany.
- Franz Fuerst & Patrick McAllister, 2009. "An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates," Real Estate & Planning Working Papers rep-wp2009-08, Henley Business School, Reading University.
- Kenton L. Ownbey & Kyle Davis & Harvey H. Sundel, 1994. "The Effect of Location Variables on the Gross Rents of Neighborhood Shopping Centers," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 111-124.
- Stephen E. Roulac, 1994. "Retail Real Estate in the 21st Century: Information Technology + Time Consciousness + Unintelligent Stores = Intelligent Shopping? NOT!," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 125-150.
- Zahra Saderion & Barton Smith & Charles A. Smith, 1994. "An Integrated Approach to the Evaluation of Commercial Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 9(2), pages 151-168.
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