Disentangling the short and long-run effects of occupied stock in the rental adjustment process

Zeno Adams, Roland Füss

Research output: Contribution to journalArticle


In the current stand of literature on the rental adjustment process starting with Hendershott et al. (Real Estate Economics, 30, 165-183, 2002a, Journal of Real Estate Finance and Economics, 24, 59-87, 2002b) it has become practice to treat the compound variable “occupied stock” as a supply variable. In this study we show that this variable deserves a more critical investigation and that the general view of a supply variable may be misleading. Using panel data covering 30 urban areas for 17 years, we investigate the rental adjustment process in the German office market.
Original languageEnglish
Pages (from-to)570-590
Number of pages21
JournalJournal of Real Estate Finance and Economics
Issue number4
Publication statusPublished - May 2012



  • rental adjustment process
  • office market
  • Germany

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