IDEAS home Printed from https://ideas.repec.org/a/taf/rjelxx/v21y2013i1p79-103.html
   My bibliography  Save this article

Evaluating the Functional Utility Characteristics of Office Buildings: A Case Study of the Office Market in Ankara, Turkey

Author

Listed:
  • Eda Ustaoglu
  • Ali Türel
  • Alper Güzel

Abstract

We apply the hedonic approach to the office property in Ankara and examine office rent determinants and their effects on rental variations. A hedonic regression model is utilized for the estimation of rent indices by using cross-sectional data including 251 office units in Ankara. Two different models were constructed in order to identify and evaluate the impact of location on the rental variations. The results identify the attributes (i.e., existence of a CPI escalation in the lease and vertical location of the office unit in the building) as proxies for the locational characteristics. Findings also suggest that locational characteristics have the greatest effect on the rental prices of the office units. The results of non-nested tests support the model incorporating locational attributes. Overall, the locational characteristics explain the spatial rent variations of the office property in Ankara to a large extent.

Suggested Citation

  • Eda Ustaoglu & Ali Türel & Alper Güzel, 2013. "Evaluating the Functional Utility Characteristics of Office Buildings: A Case Study of the Office Market in Ankara, Turkey," Journal of Real Estate Literature, Taylor & Francis Journals, vol. 21(1), pages 79-103, January.
    • Handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:79-103
    DOI: 10.1080/10835547.2013.12090353
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.2013.12090353
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10835547.2013.12090353?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rjelxx:v:21:y:2013:i:1:p:79-103. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rjel20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.