The Spatial Submarkets of the Helsinki Metropolitan Area Office and Retail Markets
||Kivilahti, Arhi; Marjan Ceh
||The Spatial Submarkets of the Helsinki Metropolitan Area Office and Retail Markets
||14th Annual European Real Estate Society Conference in London, UK
||The purpose of the article is to study retail and office submarkets of Helsinki Metropolitan Area (HMA). Resulting structure of submarkets in HMA, serves for more thorough analysis in order to find out reasoning behind the development of successful submarkets. The data used in the research consists of rental and spatial data. The spatial data includes information about business places (business register consisting about 150,000 business places), population and traffic in HMA. The rental data is collected by Institute of Real Estate Economics (KTI) and includes recent rental agreements made in HMA. The methodology used in the research combines Geographical Information Systems (GIS) and traditional statistical analysis. GIS is used for analyzing the structure of the submarkets in HMA and traditional statistical analysis are employed to get significant determinants of successful submarkets in office and retail markets. The analysis are carried out with density operators and local Moranís I cluster analyses on business places. This indicates where the different activities are concentrated on the metropolitan area. After the analysis of the submarkets on the city level, certain submarkets have been chosen to be analyzed in detail. This indicates what kind of companies and activities have been located on same areas and what kinds of features attract companies to certain areas in the case of HMA. The features that attract companies have also been analysed via interviews of managers who make the locational decisions in different companies.
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||Session B9: Modelling Commercial Real Estate Markets
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