In Taiwan, residential businesses is one of the most important supports for the city economy, and that¡¦s why it has gained the reputation of the leader of the industry. Its rises and falls will influence the living quality of the people as well as the general economy of the city. Hence, residential businesses is the key factor for economic rebuilding. The government has adopted various measures to promote ¡§City Vitalization¡¨. However, these policies were invalid due to the change of the industrial types, the migration of the traditional industry, and the increase of the unemployment, which have led to the price drop in real estate. According to the 2002 residential survey, there are 499,429 houses in Kaohsiung with a 16% vacancy rate. In other words, there are 82,275 vacant dwellings. This research was conducted because China and Taiwan have become the members of the World Trade Organization¡]WTO¡^ in 2001 and 2002 respectively, which would substantially liberalize the so-called ¡§three-links¡¨ policy. In practice, it will increase the international trade opportunities for both sides of Taiwan Straits. Direct flights are a virtual certainty. The negotiations on air ties will set a brand-new situation. When it comes to direct flights, Taiwan government holds ¡§Kaohsiung is before Taipei¡¨ policy. Therefore, The Kaohsiung International Airport will be the top priority. Consequently magnificent commercial opportunities will be brought and undoubtedly benefit the residential property. Nominal Group Technique¡]NGT¡^ is a way of organizing a meeting to enhance its productivity. Its purpose is to balance and increase participation, to use different processes for different phrase of creative problems solving and to reduce errors in aggregating individual judgments into group decisions. It is especially useful for problem identification, problem-solving and program planning. For gathering various opinions, researchers have attended NGT meetings twice, conducted a questionnaire, and interviewed experts and the conclusions are described as follows:Kaohsiung, located in the southern part of Taiwan, is not only the biggest commercial harbor and the second largest city in Taiwan, but also the chief center of the heavy industry. If the government could improve its image and investment environment to attract foreign businessmen and capital, its real estate would boom again. As the reason mentioned above, Kaohsiung government should actively participate in talks on the issue of ¡§three links¡¨ and request Beijing to put forth concrete strategies to promote collaboration between both sides of the Taiwan Straits for a win-win relationship.

Office is a necessary workplace for corporate business operation in current commercial market, the maturity of office market development reflects the economy and commercial development status in different markets. The application of transacted office rental and vacancy rate as a primary data is relatively rare in pervious domestic literatures due to the difficultly of primary data collection. Therefore, the study of the correlation between office rental and vacancy rate by using primary data analysis is one of the research focus. Moreover, the lack of land supply for office development in Taipei CBD led to a rapid growth for suburban technology parks in the past decade. Corporate occupiers may relocate from the CBD to suburban technology parks due to competitive rental, improved public transportation network and information technology infrastructure. Therefore, the study of the correlation between suburban technology parks¡¦ office new supply and CBD Grade A office vacancy rate is another research focus in this thesis. The scope of study covers the Taipei CBD office submarkets and Neihu Technology Park and Nankang Software Park within suburban of Taipei City. The research method includes a literature review, market overview of CBD and suburban technology parks and empirical analysis of research data. By using correlation coefficient and ordinary least squares methods to analyze the factors, there are two finding revealed in the empirical results. Firstly, the empirical results revealed that the relationship between Taipei CBD Grade A office rental and vacancy rate is negative. Rental drop while vacancy increasing and oppositely rental increase while vacancy rate decline. The grade A rental may drop NT$27.16 per ping per month when Grade A vacancy rate increase 1%. Secondly, the empirical results revealed that the relationship between suburban technology parks¡¦ office new supply and CBD Grade A office vacancy rate is positive. The Grade A office vacancy rate may increase 1.53% when suburban technology parks increase 10,000 pings office new supply. NT$27.16 per ping per month when grade A vacancy rate increase 1%. It would be helpful for making business decisions on office leasing, real estate development and property investment if corporate occupiers, real estate developer and investor have more knowledge on office market vacancy rate and new supply information.

近年來大量的就業人口都是利用辦公室的生產者，例如美國在70年代有25%的新進工作人員在辦公室進行工作，而至80年代更提高至27%。在此種狀況下，就臺灣地區而言，大型現代化辦公大樓的需求必然會逐漸強烈，尤其在跨國性的旅行、信託（保險）公司、專業服務性公司的不斷地在台灣設立分據點之後，對高品質辦公大樓的需求必然會持續增加，另外在國際性企業大量「進出」台灣後，未來不動產市場的兩大趨勢：一是大型現代化辦公大樓勢將不足，特別是擁有自動化系統的辦公大樓將嚴重缺乏；二是申小型及老舊的辦公市場將會停滯。特別是臺北都會區為臺灣地區的政經中心，具有吸引辦公大樓集中此地的客觀要件。，況且辦公大樓的供需有時間落差，一旦不動產市場景氣有所變化，辦公大樓的供需便產生失調，使得空閒率上升或是供不應求，形成資源浪費，因此制定合理的供需模式，進行都會區的前程規劃，使有限的土地資源得以合理的利用，以維持都會的成長。 　　本論文共有六章，內含二十一節，相關內容如下： 　　第壹章：含研究動機、目的、流程、方法及研究範圍之說明。 　　第貳章：針對辦公大樓與聚集經濟以及國外研究辦公大樓供需模式之相關文獻予收集整理，以為理論分析之基礎。 　　第參章：將辦公大樓市場運作的過程進行模擬，並對影響辦公大樓供需之因子分別加以探討，配合存貨調整模型，解決理想與期望之間的差益。 　　第肆章：將目前台北都會區辦公大樓之實況予清析之描述，使理論與實際狀況互相調整其差益異點。 　　第伍章：由理論模式之觀點截取所須之市場性資料，配合VAR之動態迴歸模型進行辦公大樓的實證分析。 　　第陸章：綜合前文之分析，提出本研究之結論與建議。 / In recent years,many new employees are work in office.For ex ample,in American there are 25% new employees are work in office in 70',and in 80',the office's employment rate became 27% . In T aiwan ,modern office building's demand will become graduate stro ng year for year. Because many international cooperation set bra nches in Taiwan. In future, office building' s development has fa ce tow conditions;the first is modern and large scale office wil l lack of the necessary ,the others is old type office will rebu ilt or depreciation. Especial Taipei is the capital of Taiwan an d lack of land, In these years, real estate's price arise too hi gh. Many manufacturing plant can not offer higher rent so plant move out. This situation make damage to Taiwan's economy develop ment, so the urban planning department need preplanning with oth er land use. In order to get the goal of equal rughts.

No description available.

根據1990年住宅普查結果顯示，臺灣的住宅自有率為78.44%，空屋率為13.29%。此結果相較於1980年住宅普查的自有率79.11%與空屋率13.09%，發現十年來此兩住宅現象變化不大，其中臺灣的空屋現象與歐美國家一般正常3~5%的空屋水準比較，明顯偏高。然而臺灣長期面對如此高的空屋率，其背後的涵意、原因與影響為何？是否隱含臺灣住宅投資的偏高資本利得預期與偏低的持有成本及租金等現象？值得研究。尤其臺灣近年來的偏高房價並未因為高空屋率而有明顯的下降情形，此又代表何種意義？更重要的是：政府面對如此高的空屋現象，應有何住宅政策以為因應？ 　　本研究首先透過兩次住宅普查與臺灣電力公司表燈用電不足底度資料澄清臺灣地區各縣市空屋狀況。發現臺灣地區歷年空屋率均相當高，而至1993年底空屋數量持續增加達到歷年最高記錄：約76萬戶空屋，空屋率約為14%，此現象預期對未來房地產市場不景氣有嚴重深遠影響。本文其次利用計量經濟模型分析：一、影響臺灣空屋率的主要原因，藉此解釋臺灣各地區不同的空屋狀況；二、空屋率與價格間之相互關係，並計算臺灣地區各縣市歷年自然空屋率，以此探討現行空屋率是否合理；三、利用信義房屋公司之仲介資料，分析在市場上空屋所有權人之屬性及住宅屬性對住宅成為空屋機率之影響。最後，針對過去空屋現況與上述研究，研擬提高空屋利用之策略，並建議政府檢討國宅政策，有效利用空屋，從根本上解決日益嚴重之住宅問題。 / According to 1990 Taiwan's housing census, the homeowner occupancy rate was 78.44% and the vacancy rate was 13.29%. The result compared with homeowner occupancy rate 79.11% and vacancy rate 13.09% of 1980 census, it was not much different during the past 10 years. Comparing with the reasonable vacancy rate, 4-5% in the most western countries, the-vacancy rate in Taiwan was very high obviously. What are the implication, reasons, and impacts of high vacancy rate? Does it imply the expectation of high capital gain of housing investment as well as the low holding costs and rents in Taiwan? The most critical issue is what kind of housing policy should be proposed to solve the problems of high housing vacancy. 　　This thesis used housing census data and under minimum use of electricity data of Taiwan Power Company to clarify the phenomenon of housing vacancy in Taiwan during every past year. ffe found that housing vacancy rate was always high, 14.58% in average (1.2% in standard deviation) during 1980-1992. Up to the end of 1993, the stock of vacant house was about 760,000 units and the vacancy rate was about 14%. ffe then established econometric model to analyze the following topics: 　　(1) the reasons of high vacancy rate in Taiwan; 　　(2)the relationship between vacancy rate and housing price, and then to caculate the natural vacancy rate of each city in Taiwan; 　　(3)the possibility of a housing unit to be vacant was effected by characteristics of housing itself and its homeowner. 　　Finally, we suggest some housing strategies and policies to solve the high vacancy issue to the government.

過去文獻少有探討不動產的收益穩定性，多重視市場租金或市場空置率的變化，但隨著辦公大樓證券化投資風潮，個別大樓的租金和空置率變化，以及大樓租金收益穩定性成為投資的重要判斷指標，而其中租戶結構更是辦公大樓租金收益穩定的主要來源，也是大樓空置率的重要影響因子，成為本文研究之焦點。本文實地調查台北市主要辦公室商圈中90棟辦公大樓，並以三階段最小平方法（3SLS）聯立模型分析影響個別辦公大樓租金及空置率的因素，研究結果發現，空置率增加1%將使每坪月租金減少13.09元，但每坪月租金增加100元會造成大樓空置率上升1.55%。其次，平均每層租戶數目多、租戶平均面積大、租戶以外商公司為主體、企業平均利潤率高、「金融及保險、不動產及租賃、專業科學及技術服務業」等行業佔大樓面積比例愈高等因素，皆能有效降低辦公大樓空置率，使投資人的租金收益更穩定。由此可知，成功的辦公大樓投資或證券化，租戶結構對於空置狀況的影響應加以重視，方能確保未來擁有穩定的租金收益。 因不動產證券化發展，辦公大樓投資組合情況也應受到市場重視，本文以90棟辦公大樓進行兩兩任意組合模擬，在現有資料下，結果為相較於個別辦公大樓投資，若將辦公大樓採兩兩投資組合，能獲得較高報酬及較低風險。而分析組合內容可發現，重視大樓的建物品質比重視租戶品質更能達到效率組合，若選擇「好建物」的大樓納入投資組合中，將能提高組合的報酬；若選擇「好租戶」的大樓納入投資組合中，將能降低組合的風險。 / Previous literatures mostly focus on the change in market rental and vacancy rate of office buildings, but rarely discuss the rental income stability of real estates investment. However, with the prevalence of office building securitization as investment targets goes on, the rental income stability of individual real estates has become an important indicator for investment purposes. Among many, tenant structure, the main focus of this study, is the major source of income stability of office buildings, and also an important factor to building vacancy rate. This study makes researches of ninety office buildings in the major business areas of Taipei, applying three stage least squares(3SLS) methods to analyze the factors that affect the rental and vacancy rate of individual office buildings. The empirical results of this study suggest that increasing per 1% in vacancy rate shall make decrease monthly rent by 13.09 $NTD/ping and increasing per 100$ NTD/ping in monthly rent shall make increase1.55% in building vacancy rate. Moreover, there are many factors, such as the average number of tenants on per floor, average rental size from per tenant, foreign firms are the main tenants of office building, the average firm return rate, can all efficiently lower the vacancy rate of office buildings, and make rental returns more stable for investors. Besides, if the industries of finance and insurance, real estate and rental, science expertise and technical service make up a high proportion of total floor surface will lower the vacancy rate.Therefore we know that, for a successful office building securitization or investment, the effect of tenant structure on vacancy rate should be more recognized in order to ensure a future possession of stable rental returns. Due to the development in the Real Estate Securitization, the situations in portfolio of office buildings should receive its share of attention from the market. This paper simulates 90 office buildings into random pairs and finds out that, in contrary to stand-alone investments, investing in pairs shall yield a higher return at a lower risk. Analyzing the contents of the portfolio, we can find out that, paying more attention on the quality of the building rather than on the quality of tenants can more easily attain efficiency. Putting a “good building” into an portfolio shall increase return, and putting in a building with “good tenants” shall reduce risk.

The diploma thesis focuses on the identification of factors influencing the rent of office spaces in Prague. The summary of specific characteristics that distinguish office spaces market from other real estate market area and the analysis of the Prague office spaces market development between 1997 and 2010 are the integral parts of this diploma thesis. On the basis of discovered facts are the factors affecting the rent defined and their development between 1997 and March 2010 is approached. Defined hypothesis are verified by the empiric analyse of the gathered information.

In the nineties of the twentieth century the Prague office space market looked totally different from its current situation. The demand significantly exceeded the supply on the market and there was an entire lack of high-quality office places, which were built mostly in the city centre. There were predominating small projects of office and residential reconstructions which were limited by historical monument regulation and lack of space in the city centre. As of now the supply is prevailing on the Prague office space market and the situation for developers and tenants has totally changed. The competition of developers has rapidly increased and further increase is expectable. The development of new office buildings has moved from the city centre to the inner and outer city and the developers have focused on the multifunctional complexes, conversion of brownfields and construction of large city districts instead of separate office buildings. Prague office development is comparable with the development in Budapest and Warsaw. Commercialization of the city centre and suburbanization is even typical for all four capital cities in Central and Eastern Europe.

Direktavkastningskravet är ett avgörande mått inom fastighetsbranschen för att bedöma lönsamheten hos en fastighetsinvestering. Genom att tillämpa direktavkastningskravet kan investerare jämföra och utvärdera lönsamheten hos olika fastigheter och tillgångsslag. De senaste två decennierna har kännetecknats av en komprimering av direktavkastningskravet på flera fastighetsmarknader, vilket till stor del har påverkats av det gynnsamma makroekonomiska klimatet under den tiden. Under inledningen av 2022 har det ekonomiska landskapet genomgått betydande förändringar då flera länder har ställts inför utmaningar med hög inflation och ökande styrräntor som en följd av en överstimulerad ekonomi. Förändringen har inneburit att den tidigare trenden av sjunkande direktavkastningskrav har brutits i takt med att fastighetsinvesterare har justerat upp risken för att kompensera för den ökade osäkerheten på marknaden. Mot bakgrund av direktavkastningskravets utveckling över tid syftar studien till att undersöka vilka faktorer som har bidragit till denna förändring. Studien undersöker några av dessa faktorer genom att analysera olika makroekonomiska och marknadsspecifika variabler och deras påverkan på direktavkastningskravet för kontorsmarknaden i Stockholm CBD under perioden 2000 till och med 2022. Studien visade att förändringen i direktavkastningskravet över tidsperioden signifikant kunde förklaras av faktorer som BNP-tillväxt, förändringen i riskfri ränta och hyrestillväxt. Även förändringen i vakansgrad undersöktes, men enligt regressionsresultaten visade den ingen signifikant effekt på den beroende variabeln. Det är dock viktigt att notera att studiens förklaringsgrad var låg, vilket innebär att trots det att regressionen indikerar statistisktsignifikanta samband mellan förändringen i direktavkastningskravet och några av de oberoende variablerna, kan inga slutsatser dras om att det faktiskt föreligger ett samband mellan den beroende och de oberoende variablerna. / The capitalization rate is a crucial measure in the real estate industry for assessing the profitability of a property investment. By applying the capitalization rate, investors can compare and evaluate the profitability of different properties and asset classes. The past two decades have been characterized by a compression of the capitalization rate in several real estate markets, largely influenced by the favorable macroeconomic climate during that time. In the early stages of 2022, the economic landscape has undergone significant changes as several countries have faced challenges with high inflation and rising interest rates due to an overheated economy. This change has resulted in breaking the previous trend of declining capitalization rates, as real estate investors have adjusted upwards for risk to compensate for the increased market uncertainty. Taking into account the evolving nature of the capitalization rate over time, the study aims to explore the underlying factors contributing to this transformation. Specifically, the study examines a range of macroeconomic and market-specific variables and their influence on the capitalization rate for the office market in Stockholm CBD between 2000 and 2022. The study found that the change in the capitalization rate over the time period could be significantly explained by factors such as GDP growth, changes in risk-free interest rates, and rental growth. The change in vacancy rate was also examined, but according to the regression results, it showed no significant effect on the dependent variable. However, it is important to note that the study had a low explanatory power, which means that despite the regression indicating statistically significant relationships between the change in the capitalization rate and some of the independent variables, no conclusions can be drawn about the existence of a relationship between the dependent and independent variables.

This research examined the problem of poor retention of employees with scarce skills in the Limpopo Department of Agriculture. Employees with scarce skills were selected to participate in the research which focused on recruitment, selection and retention. Recruitment, selection and retention of line employees with valued skills are a major crises facing many institutions. The problem of poor retention and turnover of line employees with scarce skills has far reaching consequences in that dissatisfaction with working conditions causes additional turnover. To some extent, the Department can control the turnover rate of its employees with scarce skills. The research assessed recruitment, selection and retention of line employees with scarce skills in the Limpopo Department of Agriculture. The research concentrated on the reasons for poor retention of line employees with scarce skills, the extent of turnover of employees with scarce skills, what process do the Limpopo Department of Agriculture follow in filling vacant post and what interventions and measures do the Department undertakes to ensure compliance to the recruitment policy. A questionnaire was used to collect data from managers and line employees with scarce skills. A hundred (100) questionnaires were distributed and 67 were returned. The findings revealed that Limpopo Department of Agriculture can do more in retaining its valued line employees (those with scarce skills). The challenge of scarce skills in the Department is compounded by the high demand of for instance engineers, state veterinarians and researchers in South Africa. There is a war on scarce skills in South Africa, Generation Y needs resources, better working conditions and a better salary to be retained. The research findings were evaluated and possible strategies for improving recruitment, selection and retention of line employees with scarce skills are recommended. The Department should design a career progression path policy. This would assist in retaining scarce skills in the public sector. / Public Administration and Management / M.A. (Public Administration)