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Paper eres2017_341:
Situations Vacant: A Conceptual Framework for Commercial Real Estate Vacancy

id eres2017_341
authors Muldoon-Smith, Kevin; Paul Greenhalgh
year 2017
title Situations Vacant: A Conceptual Framework for Commercial Real Estate Vacancy
source 24th Annual European Real Estate Society Conference in Delft, Netherlands
summary Commercial real estate vacancy is a key indicator of property market efficiency, economic performance and urban resilience. However, there has been little conceptual reflection into the abstract notion of vacancy beyond binary distinctions of natural and structural vacancy. Although useful simplifying meta-concepts, neither accounts for the internal complexity and imperfection that permeates real commercial property markets. Consequently, the objective of this article is to outline a conceptual framework that describes vacancy across the commercial real estate building life-cycle from initial construction to final demolition and redevelopment. The originality of the research rests in its utility as the first known holistic examination of commercial real estate vacancy beyond that of an abstract economic factor, while its value is explicit in the conceptual typology which can be used by researchers interested in market imperfections and consequent interventions.
keywords Natural vacancy; Structural vacancy; Commerical real estate; Building life-cycle; Resilience
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
ratings
session Real Estate Markets & Economics
last changed 2017/11/18 16:20
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