Abstract
Using a unique transactions dataset, this paper examines the determinants of lease incentives in the Amsterdam office market. The study focusses on the type of landlord involved (institutional/privately owned) and whether the tenant or landlord used an advisor to help them with the transaction. The results show that an institutional landlord, ceteris paribus, offers 11 percentage points more incentives than a private owner. In addition, a landlord who uses the services of an advisor pays 11 percentage points less incentives. An advisor at the side of the tenant increases incentives by 13 percentage points. The results in this paper highlight the crucial role of market information, information asymmetry, and bargaining in the market for commercial real estate.
| Original language | English |
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| Title of host publication | American Real Estate and Urban Association International Conference |
| Pages | 1-24 |
| Publication status | Published - 2016 |
| Event | 2016 AREUEA International Conference - Europe, Alicante, Spain Duration: 6 Jul 2016 → 8 Jul 2016 https://web.ua.es/en/areuea/home-old.html |
Conference
| Conference | 2016 AREUEA International Conference |
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| Country/Territory | Spain |
| City | Alicante |
| Period | 6/07/16 → 8/07/16 |
| Internet address |
Keywords
- commercial real estate
- office market
- lease incentives
- advisor
- information asymmetry