IDEAS home Printed from https://ideas.repec.org/p/arz/wpaper/eres2024-228.html
   My bibliography  Save this paper

Measuring locational quality for commercial real estate

Author

Listed:
  • Gunther Maier
  • Karin Wagner

Abstract

The question what determines location quality of some real estate property is an essential one at the interface between real estate economics and regional science. Because of its heterogeneity, the question is particularly tricky in the context of commercial real estate. The Austrian Central Bank has begun to develop and implement price, rent and yield indices for commercial real estate in Austria. To make commercial prices and rents comparable in a hedonic sense, we capture locational quality effects.In this paper we will present the approach for measuring locational quality that we developed in the context of the indices. The applied tool relies on spatial information from Open Streetmaps. Indicators are developed therefrom, which are evaluated in the context of traded properties. In this paper we will present a first, preliminary evaluation based on a limited set of observations reported by financial institutions.

Suggested Citation

  • Gunther Maier & Karin Wagner, 2024. "Measuring locational quality for commercial real estate," ERES eres2024-228, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2024-228
    as

    Download full text from publisher

    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2024-228
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    commercial real estate; Location; Open Streetmaps; Valuation;
    All these keywords.

    JEL classification:

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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arz:wpaper:eres2024-228. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/eressea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.