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Author(s): Emília Malcata Rebelo
Title: New Insights into Office Location and Rents
Issue Date: 2012
Abstract: This communication presents a research on the reasons that shape offices locationsand respective rent levels, within the scope of increasing globalization. It tests thehypothesis that the factors that shape the spatial structures and rents of the officemarkets are much strongly determined by urban planning and municipal investmentsthan by variables more market-related, recognized in vast literature (Glascock et al.,1990; Bellini, 2000; Archer and Smith, 2003; Rabianski and Gibler, 2007; Ozuz,2009). Thus an innovative methodology and model are proposed aimed at supportingthe definition of urban strategies and policies concerning officesŽ location andrelocation, and corresponding influence on rent levels. They resort to a set ofplanning tools able to express the local characteristics of office markets. They areapplied, as a case study, to the Porto s office market (Portugal). Implications forurban policies are inferred from this analysis. Some courses of planning interventionare further proposed that may consist, namely, in the regulation of property markets,in the indirect control on rent levels, and in a more local-based assessment of thosemarkets.This research is relevant for planning and public policies because it stresses theimportance of urban planning interventions in office markets; it develops a urbanmanagement upgradeable information system; it overcomes some restrictions ofprevious location models; it settles a hedonic integrated and interactive nondeterministicmodel that fits the values that variables underlying rents may assumeany time; it develops cartographic display and simulation functionalities (resorting tothe use of geographic information systems); and it finally includes agentsŽbehaviours in the hedonic model of officesŽ rents.The assessment of the proposed model complements and enriches the operationalapplication of hedonic models previously proposed in literature, and includesflexibility devices to support urban planning decisions on office markets. Besides,the results of this methodology and model will probably engender a reassessment anddiscussion on the role of public intervention versus market factors on urban officerentsŽ levels and trends.
Subject: Ciências Sociais, Ciências sociais
Social sciences, Social sciences
Scientific areas: Ciências sociais
Social sciences
Source: 26th Annual Congress of the Association of European Schools of Planning, "Planning to Achieve/Planning to Avoid"
Document Type: Artigo em Livro de Atas de Conferência Internacional
Rights: openAccess
Appears in Collections:FEUP - Artigo em Livro de Atas de Conferência Internacional

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