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Estimating Occupied Office Space: Comparing Alternative Forecast Methodologies



This study compares alternative methodologies that can be used to forecast growth in a market's occupied office space. Trend line analysis methods are compared to econometric methods. Using 1978 through 1987 data from the Boston market, these models have been used to predict the known performance of the market in 1988 and 1989 permitting comparison of these models in terms of their overall performance and their ability to predict the recent downturn in that market. The results suggest that real estate practitioners and planners should employ economic techniques in their efforts to forecast the incremental changes in occupied office space.

Suggested Citation

  • Kirk McClure, 1991. "Estimating Occupied Office Space: Comparing Alternative Forecast Methodologies," Journal of Real Estate Research, American Real Estate Society, vol. 6(3), pages 305-314.
  • Handle: RePEc:jre:issued:v:6:n:3:1991:p:305-314

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    References listed on IDEAS

    1. Cooley, Thomas F. & Leroy, Stephen F., 1985. "Atheoretical macroeconometrics: A critique," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 283-308, November.
    2. Burbidge, John & Harrison, Alan, 1984. "Testing for the Effects of Oil-Price Rises Using Vector Autoregressions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(2), pages 459-484, June.
    3. Angeloni, Ignazio, 1985. "The dynamic behavior of business loans and the prime rate : A comment," Journal of Banking & Finance, Elsevier, vol. 9(4), pages 577-580, December.
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    Cited by:

    1. Jacco Hakfoort & Robert Lie, 1996. "Office Space per Worker: Evidence from Four European Markets," Journal of Real Estate Research, American Real Estate Society, vol. 11(2), pages 183-196.
    2. Dirk Brounen & Maarten Jennen, 2009. "Asymmetric Properties of Office Rent Adjustment," The Journal of Real Estate Finance and Economics, Springer, vol. 39(3), pages 336-358, October.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services


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