MIT Libraries logoDSpace@MIT

MIT
View Item 
  • DSpace@MIT Home
  • MIT Libraries
  • MIT Theses
  • Graduate Theses
  • View Item
  • DSpace@MIT Home
  • MIT Libraries
  • MIT Theses
  • Graduate Theses
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Vacancy durations in the office market

Author(s)
Sykora, Jiri,S.M.Massachusetts Institute of Technology.
Thumbnail
Download1135865480-MIT.pdf (632.7Kb)
Other Contributors
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.
Advisor
William C. Wheaton.
Terms of use
MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582
Metadata
Show full item record
Abstract
The durations of other indicators have been researched extensively in real estate studies, primarily the time on market and the duration of residence in housing units. Despite their importance, empirical research on the duration of vacancies is relatively limited and focused mainly on the housing sector. This paper aims to fill this gap and analyze the determinants of vacancy durations in the office sector. The analysis is based on a dataset of individual office suites located in New York City, NY that became vacant between 2012 and 2015. Vacancy durations are a form of time-to-event data and as such can be examined using survival analysis. We present several parametric and non-parametric survival models. Four key characteristics -- unit size, asking rent, building height, and floor number -- are found significant across all model specifications. Specifically, vacancy durations are affected the most by unit size and asking rent. Survival probabilities are found to considerably vary over time, which appears to be driven by variations in employment growth.
Description
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
 
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2019
 
Cataloged from PDF version of thesis.
 
Includes bibliographical references (pages 49-50).
 
Date issued
2019
URI
https://hdl.handle.net/1721.1/123599
Department
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development; Massachusetts Institute of Technology. Center for Real Estate
Publisher
Massachusetts Institute of Technology
Keywords
Center for Real Estate. Program in Real Estate Development.

Collections
  • Graduate Theses

Browse

All of DSpaceCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsThis CollectionBy Issue DateAuthorsTitlesSubjects

My Account

Login

Statistics

OA StatisticsStatistics by CountryStatistics by Department
MIT Libraries
PrivacyPermissionsAccessibilityContact us
MIT
Content created by the MIT Libraries, CC BY-NC unless otherwise noted. Notify us about copyright concerns.