Identifying lag relationships in the office market with a turning point method during the Global Financial Crisis
||Horváth, Áron; Gábor Révész
||Identifying lag relationships in the office market with a turning point method during the Global Financial Crisis
||22nd Annual European Real Estate Society Conference in Istanbul, Turkey
||Lead-lag relationships among office market indicators are essential to discover for both theoretical and practical reasons. This paper identifies an approximately one year lag between office market yield and new supply; a somewhat shorter distance of rents and yields is revealed. According to the concluded calculations, vacancy and take-up respond swifter to external shocks. We use the crisis as an identifier, and detect reactions of turning points of the time series in a worldwide database provided by DTZ.
||office market, forecasting, global financial crisis, lead-lag relationship, global database
||file.pptx (3,431,635 bytes)
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||Market Research, Analysis & Forecasting
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