Concordance in global office market cycles

Stevenson, Simon and Akimov, Alexey and Hutson, Elaine and Krystalogianni, Alexandra (2014) Concordance in global office market cycles. Regional Studies, 48 (3). pp. 456-470. ISSN 0034-3404

[img]
Preview
PDF (stevenson et al 2014 offices)
stevenson_et_al_2014_offices.pdf - Submitted Version

Download (272kB)

Abstract

Concordance in global office market cycles, Regional Studies. A large proportion of international real estate investment is concentrated in the office markets of the world's largest cities. However, many of these global cities are also key financial services centres, highlighting the possibility of reduced economic diversification from an investor's perspective. This paper assesses the degree of synchronization in cycles across twenty of the world's largest office markets, finding evidence of significant concordance across a large number of markets. The results highlight the problems associated with commonalities in the underlying economic bases of the markets. The concentration of investment also raises the possibility of common flow of funds effects that may further reduce diversification opportunities.

Item Type:
Journal Article
Journal or Publication Title:
Regional Studies
Additional Information:
This is a Pre-Print Manuscript of an article published by Taylor & Francis Group in Regional Studies on 24/07/2013, available online: http://www.tandfonline.com/10.1080/00343404.2013.799763
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/3300
Subjects:
ID Code:
61592
Deposited By:
Deposited On:
09 Jan 2013 15:24
Refereed?:
Yes
Published?:
Published
Last Modified:
29 Nov 2020 01:42