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Paper eres2015_296:
Office market response to earthquake-prone building policy in New Zealand

id eres2015_296
authors Filippova, Olga
year 2015
title Office market response to earthquake-prone building policy in New Zealand
source 22nd Annual European Real Estate Society Conference in Istanbul, Turkey
summary The Canterbury earthquakes caused significant disruption and destruction of commercial premises. The effects of the earthquakes have spread across New Zealand and seismic risk has become a significant issue for property owners and tenants. The seismic strength of a building is now a major consideration for tenants when making commitments to a long term lease. There are also examples where building owners are investing in strengthening their buildings despite the relevant legislation not yet having been passed by central government. The framework for this research is that tenants and landlords preferences towards existing buildings may change with regard to growing awareness of seismic strength and this change in behaviour will be evident in the increased rental prices in buildings with higher building standards. This research provides an empirical investigation of the rental price differentials between seismically safe and earthquake-prone buildings before and after the Canterbury earthquakes.
keywords rent, price premium, earthquake, New Zealand, office market
series ERES:conference
type paper session
content file.ppt (4,931,869 bytes)
discussion No discussions. Post discussion ...
session Performance and Risk Management
last changed 2015/07/08 18:06
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