Preferences of Office Occupiers : Factors Affecting Location Decisions in Istanbul Office Market in the Post-Crisis Period
||Preferences of Office Occupiers : Factors Affecting Location Decisions in Istanbul Office Market in the Post-Crisis Period
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||Istanbul office market recorded the highest take-up level in the last three years, which was the highest absorption in EMEA region as a percentage of inventory in 2014. The market have been experienced high volume of new supply delivery which also have supported higher demand level. Indeed, the most demanded areas, based on take-up volume by submarkets, either CBD or secondary submarkets where significant amount of new supply entered to the market in the last a few years.The purpose of this paper is to examine the Istanbul office market in the post-crisis period from the perspective of occupiers. Based on the survey results, administrated to the office occupiers, location decision of them is investigated by identifying their needs and preferences regarding the physical requirements as well as financial objectives, especially cost reduction. It is also aimed to reveal any relocation pattern among certain submarkets and/or business types by analysing office occupier deals realized in the post-crisis period in Istanbul office market.
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||Real Estate Cycles
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