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Influence of the Facility Management of the Modern Buildings on their Utility and Market Value

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  • Patrick Hirsch

Abstract

The euro area economies are bound together by monetary policy while still inhibiting many heterogeneities. Amongst them the share of homeowners. This paper presents a medium-scale New Keynesian DSGE model of the euro area with an extensive housing market which explicitly models endogenous tenure choice. Results from the calibrated model indicate that there are various parameters determining the ownership rate. Dependent on the drivers of the heterogeneity, shocks have substantial effects on real variables when homeownership rates differ across countries.

Suggested Citation

  • Patrick Hirsch, 2019. "Influence of the Facility Management of the Modern Buildings on their Utility and Market Value," ERES eres2019_369, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2019_369
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2019-369
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    More about this item

    Keywords

    Facility Management; indoor environment; Market value of buildings; Smart buildings; Utility value of buildings;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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