Modelling the Effect of a New Large Shopping Centre in Helsinki Metropolitan Area
||Postila, Mikael; Kivilahti, Arhi; Viitanen, Kauko
||Modelling the Effect of a New Large Shopping Centre in Helsinki Metropolitan Area
||16th Annual European Real Estate Society Conference in Stockholm, Sweden
||The final objective is to figure out the local effects of new large shopping centres on retail shopping habits, socio-economic structures and retail real estate rental values on neighbouring areas. Other area of interest is lead-lag relationship between population and retail sales. This study is conducted as a sub-project of Helsinki University of Technology, Tampere University of Technology and Turku School of Economics research project KOKKKA. In this paper we test the available data as well as our methodological approaches. For this purpose we have selected two recently built large shopping centres in Helsinki Metropolitan Area, namely Sello (GLA 85,000sqm) in Leppävaara region and Kamppi (GLA 35,000sqm) in Helsinki city centre. Our dataset comprises of a time series of retail sales data of individual retail outlets, sosio-demographic and economic data from the Finnish Statistics office and KTI Finland rental benchmarking data. Data is geocoded into GIS system in which we will perform an econometric analysis on the relationship of our variables of interest before and after a case shopping centre is established. Also we are will calculate spatial correlations over time between retail shopping and population.
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