Vacancy Rate and Rent on the Office Market in Poland - In Search of Asymmetry
Abstrak
A growing body of empirical evidence suggests that adjustments on the office market are not symmetric. The theoretical framework provides various justifications for the presence of frictions, especially in the case of rent and vacancy rate. In this paper, we investigate the asymmetric reactions of rent and vacancy rate to the demand and supply shocks in the nine major office markets in Poland. In the course of the study we seek answers to two research questions. First, we investigate if the direction (positive or negative) as well as type (demand or supply) of the shocks produce asymmetry in the adjustments of vacancy rate and rent. Secondly, we examine if market conditions and distinction between the long-term and short-term perspective can generate asymmetry in vacancy rate and rent responses to the shocks.
Topik & Kata Kunci
Penulis (2)
Nowak Krzysztof Adam
Głuszak Michał
Akses Cepat
- Tahun Terbit
- 2025
- Sumber Database
- DOAJ
- DOI
- 10.2478/remav-2025-0038
- Akses
- Open Access ✓