No description available.

<p>In the first paper the effect of accessibility upon rent is investigated for office properties located in Downtown Stockholm. Starting from the firm’s cost minimization problem, a translog hedonic model is derived. The results suggest the model has good predictive power in explaining the variation in the log of the rent. A negative rent gradient is obtained with a base approximately 90 meters from the postulated focal point. It appears as if Space Syntax adds important information to the understanding of the intraurban office rent pattern.</p><p>The second paper investigates assumed capitalisation rates in 3026 discounted cash flow valuations of office properties in Stockholm, Gothenburg and Malmö during the time period 1998-2004. The study investigates determinants of property-level variation in cap rates and how going in and exit cap rates relate to each other.</p><p>Exit cap rates exhibit substantial variation across properties. Part of this cross-sectional variation can be attributed to the location of the property, part of it is due to other characteristics of the property. Exit cap rates are differentiated between properties of the same type on the same market segment, which shows that valuers apply property level fine-tuning when setting exit cap rates. Properties with low market rent and high long-run vacancy assumption typically have high exit cap rates. Properties in peripheral parts of a city typically have higher exit cap rates than properties in central parts.</p><p>The implicitly assumed going-in cap rate (defined as assumed net operating income year one divided by estimated market value) follows a similar pattern as the exit cap rate but exhibits more temporary, property-specific variation. Going-in cap rates are strongly influenced by temporary deviations of vacancy rates and rents from assumed “normal” levels of vacancy and rent. The difference between going-in and exit cap rates is influenced by assumed short-run growth in net operating income in the way stipulated by theory: high assumed short-run growth is associated with going-in cap rates being lower than exit cap rates.</p>

Backgroud: This master thesis is about discovering the concept of ‘Activity- Based Working (ABW)’ and its application to the specific case of IKEA. ABW is a phenomenon in office design and management. From a physical perspective, it discards private offices, desks and desktop computers assigned for individual’s permanent use (Parker, 2016). Instead, the office space is rearranged with various areas tailored for different work tasks, such as hubs for teamwork, meeting areas, cubicles, phone booths, workshop areas and more (Parker, 2016; Ditchburn, 2014). The application of ABW involves in the behavioral environment in addition to the physical one. The behavioral environment is aimed to encourage collaboration, creativity, team work and flexible working (Koetsveld &amp; Kamperman, 2011). The concept of ABW is yet under-researched. The existing literature presents the driving factors of open-plan and partially activity-based workspaces from an organizational perspective. The driving factors and expected outcomes of ABW are steered by the work-related needs by the practitioners and scholars. The needs identified by scholars, which are leading companies to take an action towards ABW are mainly organizational needs. The empirical studies reveal positive and negative outcomes of activity- based way of working, affecting physical and behavioral environments of employees, without building a relationship between the work-related needs and the outcome. In addition, these studies are very limited and they do not cover the reflections of driving factors on employees. Addressing this gap, I want to add to the literature on office space by presenting an empirical case of IKEA, which combines the rationales and experiences of employees shortly after their workspace has been transformed to ABW. My purpose is not to point out the positive or negative experience, but to reveal employees’ interpretation of the new workspace and how they experience it. Research question: How do employees interpret the rationales around the transformation of their office space into ABW and how do they experience the ABW environment? Purpose: To investigate the lived experience of IKEA employees in a physically and behaviorally changing workspace and to problematize the relationship of the rationales and experiences of employees. Method: This research is an explorative case study. The data presented in findings is collected through semi-structured interviews. Thirteen interviews conducted in three different locations of IKEA. Conclusion: The study concluded as the lived experience of employees is not mainly parallel to the rationales of organization towards changing to an activity-based environment. The findings revealed a tension between the driving factors and the lived experience. Driving factors reflect what is planned by the organization; whereas the lived experience do not directly show the impact of driving factors on the outcome. The lived experience brings the attention to the social needs of employees to be considered in workspace.

Submitted by Rafael Santana (rafael.silvasantana@ufpe.br) on 2017-07-17T18:28:50Z No. of bitstreams: 2 license_rdf: 811 bytes, checksum: e39d27027a6cc9cb039ad269a5db8e34 (MD5) Tese ANA.pdf: 10188984 bytes, checksum: de03259cdfb41a9ebdfad4e181dedc79 (MD5) / Made available in DSpace on 2017-07-17T18:28:50Z (GMT). No. of bitstreams: 2 license_rdf: 811 bytes, checksum: e39d27027a6cc9cb039ad269a5db8e34 (MD5) Tese ANA.pdf: 10188984 bytes, checksum: de03259cdfb41a9ebdfad4e181dedc79 (MD5) Previous issue date: 2016-05-27 / Através de pesquisa bibliográfica das formas de ocupação física de espaços de escritório, identificou-se que a determinação do espaço de trabalho é fundamentada na posição hierárquica do trabalhador. Avaliações ergonômicas realizadas em ambientes de escritório por diversos pesquisadores constataram que os ambientes não estão atendendo aos anseios dos usuários. Tendo em vista que a ocupação de um espaço segue um processo de planejamento, mas que a quantificação e organização do espaço seguem padrões organizacionais, nessa tese levantou-se a hipótese de que a forma de distribuição e a quantidade de espaço físico necessária ao espaço de trabalho para a execução das atividades deveriam ser estabelecidas a partir do conhecimento sistemático das atividades e utilização de dados ergonômicos de dimensionamento de espaço. Partindo disso, esse estudo propoes um processo de projeto alicerçado no sistema humano, na qual a ergonomia contribui e fundamenta, prevendo-se o espaço para as formas possíveis de execução atividade, utilizando situações existentes cuja análise permitirá esclarecer as condições da atividade futura. Para testar esta hipótese, uma adaptação do método hipotético dedutivo foi utilizada como instrumento de pesquisa para desenvolver uma metodologia de configuração deste espaço. Como estudo de caso, foram investigados onze postos de trabalho de um escritório de uma empresa pública. A proposta de composição dos espaços de trabalho foi fundamentada em uma investigação das atividades utilizando o método iSEE e na destinação de módulos de padrões dimensionais para cada ação decorrentes das atividades identificadas. A metodologia desenvolvida foi sintetizada em um modelo de configuração do espaço de trabalho, que foi experimentado por profissionais que atuavam em projetos de ambiente. / Through literature search of forms of physical occupation of office space, it was found that the determination of the workspace is based on the employee's rank. Ergonomic assessments conducted in office environments by several researchers found that the environments are not meeting the wishes of users. Given that the occupation of a space following a planning process, but that the quantification and organization of space follow organizational patterns, this thesis raised the hypothesis that the form of distribution and the amount of physical space required for the space work for the implementation of activities should be established from the systematic knowledge of the activities and use of ergonomic data space sizing. From that, this study proposes a process of design rooted in the human system, in which ergonomics contributes and bases, foreseeing space for the possible ways of implementing activity, using situations whose analysis will clarify the conditions of future activity. To test this hypothesis, an adaptation of the deductive hypothetical method was used as a research tool to develop a configuration methodology of this space. As a case study, eleven jobs were investigated in a public company office. The proposed composition of the working space was based on an investigation of the activities using the iSEE method and allocation of dimensional standards modules for each share resulting from the identified activities. The methodology was synthesized in a configuration model workspace, which was experienced by professionals working on environmental projects.

At present the office real estate market in Sweden faces new challenges since the economic and real estate crisis of 2008-2010 years. Since the time of economic and real estate crisis of 2008-2010 years, the office real estate market has started to face new challenges. For example, office vacancy rates have increased significantly and challenges how to find the tenant for office premises became very actual. At the same time the demand for high quality office premises still exists on the market but with new requirements to the standards of the office working space. It is happening because the employees’ needs and requirements become more oriented to the comfort and safety of the working place. The employers try to keep and motivate employees by providing the most efficient and comfortable office space to work in and balance on cost-quality issues at the same time. In order to influence on demand from tenants’ and empower tenant search process the landlords have to use new, more competitive methods. The external design of the building and internal design of the office space in particular become more and more significant in leasing, sub-leasing and buying premises property purchase at the real estate office market. It is also useful and important because tenants can change the interior and design project upon their business needs and company’s strategies. The aim of this research paper is to set up the hypothesis that the office’s space design has a significant influence on tenant search process, plays the key role in so-called optimal office for tenant and tests above mentioned hypothesis by the empirical research study (method of questionnaire) among real “market players”-tenant representatives, consulting agencies and property owners. The location for the research and analysis activities is selected as Stockholm and Stockholm’s region, time frame is September - October 2010.

Property developers and investors seek to understand the drivers of prices for office and retail space. Through literature, we learn that size and age, locational attributes, physical features of the properties, and economic variables are significant determinants of commercial property prices. However, previous work has narrowly focused on aspects akin to formal structures and ignored the role of institutions, especially conventions and social norms incredibly, and what influences the behaviour of the property developers and investors while making the pricing decision. Therefore, the goal of this study was to understand how prices for commercial properties are determined in Uganda. The objectives of the study were to understand the role of conventions and social norms found in the property market environment on price determination and to explore the behaviour tendencies/heuristics exhibited by the players during the pricing decision-making process. The study was qualitative in nature. The researcher interviewed property owners, developers, institutional investors, and key informants to understand the conventions and social norms that exist in the property market and how they ultimately influence the pricing decision of commercial buildings. This study reveals that conventions exist in the Ugandan property markets. The conventions signal a price to the players in the property environment. However, due to information asymmetry and irrationality, each player interprets the price signals differently, using heuristics to develop the final price. This study helps researchers understand the role of individual behaviour/heuristics in advancing our understanding of institutions and the effects of the two on commercial property pricing, the economy at large and its consequences on economic policy.

Mémoire numérisé par la Direction des bibliothèques de l'Université de Montréal. / Depuis les quinze dernières années, le paysage immobilier de la région métropolitaine de Montréal a subi de nombreuses transformations. Plusieurs facteurs peuvent expliquer ces transformations, mais la migration dune économie basée sur la production industrielle vers une économie basée sur le savoir et les nouvelles technologies de l’information et des télécommunications est probablement la principale cause de tous ces bouleversements. Cette recherche trace l’historique et l’évolution du marché immobilier montréalais. À l’aide d’exemples concrets, nous présentons les principaux acteurs qui font évoluer ce marché. Nous utilisons les données sur l’immobilier du commercialisateur Royal LePage, des données sur l’emploi de Statistique Canada pour la période 1981 et 1996, afin d’examiner la composition et l’évolution de pôles majeurs d’espaces à bureaux situés au centre-ville de Montréal et en périphérie de celui-ci. Le marché immobilier montréalais n’étant pas un marché autonome, il est grandement dépendant des investissements publics. En ce sens, de nombreuses initiatives publiques de projets immobiliers ont eu un succès parfois inespéré et d’autres fois assez controversées. Les politiques publiques ont influencé et influenceront de plus en plus le fonctionnement de ce marché qui n’est pas autosuffisant et fortement sous contrôle de capitaux étrangers, comparativement au marché immobilier de nombreuses métropoles américaines. Les résultats de cette recherche nous permettent de croire que cette transformation n’est pas encore terminée et que plusieurs bouleversements sont encore à venir. En effet, l’évolution constante des technologies de l’infomation et des communications liées à la globalisation des marchés promet de marquer profondément l’organisation spatiale des métropoles comme Montréal. / For the last fifteen years, the real estate landscape of metropolitan Montreal bas undergone many transformations. Several factors can explàin these transformations. but the migration of an economy based on industrial production towards one based on knowledge and information and telecommunication technologies is probably the principal cause of these changes. Ibis research traces the history and the evolution of the real estate rnarket of Montreal. With the help of concrete examples, we present the principal actors in the evolution of this market. We use the real estate data of Royal LePage and Statistics Canada employment data for the period of 1981 to 1996 to examine the composition and the evolution ofthe major poles of office space located in downtown Montreal and its peripheiy. The Montreal real estate rnarket is not an autonornous market, being largely dependent on public investments. Many public real estate projects had unexpected successes and others were very controversial. Public policies influenced and will influence more and more the operation of this market which is not seif-sufficent and is strongly under the control of foreign capital cornparatively to the real estate market of many American cities. The resuits of this research suggest that this transformation is not finished yet and that several upheavals are stili to corne. Indeed, the constant evolution of communication and information technologies related to globalisation promises to strongly influence the spatial organization ofcities like Montreal.

The aim of my thesis is to create a price map of non-residential spaces of the county town of Olomouc. Before creating the price maps, an analysis of unit prices of office and commercial spaces will be carried out using a comparative method. To-rent offers advertised by real estate servers will be used as input data. Basing on the map of to-rent offers, Olomouc town will then be divided into several zones defined by beforehand set criteria. Afterwards, these zones will be processed into analytical files, and then a test to identify outliers will be run. Then unit prices of non-residential spaces per each of concerned locations will be defined on the basis of the output data. And finally, the prices will be graphically processed into a price map of Olomouc.

Det allt mer digitaliserade, globala och ständigt uppkopplade samhället har gjort att branscher ocharbetsplatser förändras. Inom fastighetsbranschen har coworking blivit ett allt mer känt fenomen ochtar över allt större andel av den totala kontorsmarknaden. Genom coworking ersätts traditionellakontorshyreskontrakt med medlemskap och företag får tillgång till flexibla kontorslösningar medmöjlighet till nätverkande och tjänster i form av allt från skrivare och konferensrum till öltapp ochsociala events. Coworking innebär korta medlemskap istället för långa fasta hyreskontrakt förmedlemmar vilket har fått stor genomslagskraft bland stora som små företag runt om i världen.Tidigare studier i USA tyder på att coworking över en viss andel av en fastighet innebär en högredirektavkastning. Studiens syfte är att identifiera detta samband och undersöka om och i så fall vilkenpåverkan coworking har vid värdering av kommersiella fastigheter i praktiken i Sverige. Utöver dettasyftar studien till att undersöka vad värderare behöver ta hänsyn till vid en värdering av en fastighetsom innefattar coworking. Studien grundas på teori som behandlar värderingsmodeller, osäkerhet ochrisk i samband med värdering samt marknadsanalys. För att besvara studiens frågeställningar harfastighetsvärderare från fem olika väletablerade fastighetsrådgivningsföretag i Stockholms CBDområdevalts ut och intervjuats.Resultatet indikerar på att det finns ett liknande samband mellan andelen coworking i en fastighet ochdirektavkastningen även i Sverige. Ett exakt samband går dock inte att påvisa på grund av avsaknad avrenodlade coworkingfastigheter på den svenska marknaden. Beroende på hur marknaden förcoworking kommer att utvecklas kommer fastighetsvärderare i allt större utsträckning behöva tahänsyn till den risk som coworking över en viss andel av en fastighet medför vid värdering avkommersiella fastigheter. / The increasingly digitized, global and ever-connected society has made an impact on industries andworkplaces. In the real estate industry, coworking has become an increasingly well-knownphenomenon and is taking over an increasing share of the total office space. Coworking as a businessmodel replaces traditional leasing contracts with memberships. Companies gain access to flexibleoffice solutions with the possibility of networking and services, including everything from printers andconference rooms to beer taps and social events. Coworking offers short memberships instead of long,fixed leases, which has had a great impact among large and small companies around the world.Previous studies conducted in the US indicate that coworking over a certain proportion of a property’srentable area leads to a higher cap rate. The purpose of the study is to identify this relationship and toinvestigate whether coworking has an impact on the valuation of commercial properties in practice inSweden, and if so, what kind of impact. In addition, the study aims to investigate what real estateappraisers need to take into account when valuing property that includes coworking. The study isbased on theory regarding valuation models, uncertainty and risk connected to valuation as well asmarket analysis. In order to answer the study's questions, real estate appraisers from five differentwell-established real estate advisory companies in the Stockholm CBD-area have been selected andinterviewed.The result of this study indicates that there is a similar relationship between the proportion ofcoworking in a property and the cap rate in Sweden. However, an exact connection cannot beconfirmed due to lack of properties consisting of 100% coworking on the Swedish market. Dependingon how the market for coworking will develop, real estate appraisers will increasingly have to takeinto account the risk that coworking over a certain proportion of a property entails when valuingcommercial properties.

During the last year and a half, the current Covid-19 pandemic has changed many aspects ofour lives, and while we cannot yet for sure say what changes are here to stay, we do knowthat we might expect a new everyday-normal. This study aims to investigate the future ofoffice space and whether we can expect a change in demand for the required space needed,and in addition, discover what trends are on the rise. The study is based on qualitative data in the form of scenario-based interviews with principalactors within the industry, including real estate companies and tenants active within different sectors. By grounding my research and scenarios on scientific theories, such as behavior aleconomics, the rational expectations theory, symbolic interactionism and the familiar theory of demand and supply, well-grounded reasoning for future office demand and trends has been made. The results of this study suggest that a significant change in terms of the required office space needed is unlikely. A majority of the interviewees believes that we will bounce back tobusiness as usual and that the office space required decreases with no more than five percent. Organizations and real estate companies will base their decision on rational expectations, inaccordance with the rational expectations theory. Furthermore, the study highlights five main trends in the future. The first being a redesign of the office layout with additional smaller meeting rooms dedicated for focus-oriented work. The second one, elevated experience/services where full-services buildings will have to offer its tenants elevated and enhanced experiences in order to attract employees back to the office. The third the meidentified is increased expectations of employers which employees will put on their employers where flexible working policies will be demanded. The fourth is named change of purpose where the office will transform from solely being a place to get things done to becoming an even more social place and an important attractor for new talent. And lastly, time, shedding light on the importance of letting some time pass after returning back to “normal” in order for organizations to avoid making poor and costly judgment calls. / Under drygt ett år har många aspekter av våra liv förändrats till följd av den pågående Covid19 pandemin. Medan det inte är klarlagt vilka förändringar som är här för att stanna, är det säkert att säga att ett nytt normalläge är att vänta sig. Denna studie syftar till att undersökaframtidens kontorsbehov och huruvida vi kan förvänta oss en förändring i efterfråga på kontorsyta, samt till att belysa framtida kontorstrender. Studien baseras på kvalitativ data i form av scenariobaserade intervjuer med principiella aktörer verksamma inom branschen. Dessa inkluderar fastighetsbolag, projektutvecklare samt hyresgäster inom olika sektorer. Genom att grunda scenarierna på vetenskapliga teorier,såsom beteendeekonomi, teorin om rationella förväntningar, symbolisk interaktionism ochden bekanta teorin om utbud och efterfråga, har välgrundade resonemang om framtidens kontors efterfråga förts. Resultaten tyder på att det är osannolikt att en signifikant förändring i efterfråga på kontorsyta kommer att äga rum. Majoroiteten av intervjupersonerna tror att vi eller mindre kommer att återgå till våra kontor utan en större förändring sett till kontorsyta. I det fall kontorsytan minskar, minskar den inte med mer än fem procent. Vidare baserar företag deras beslut pår ationella förväntningar, i enlighet med teorin om rationella förväntningar. Därutöver identifierar studien fem framtida kontorstrender. Första trenden är en omfördelning av kontorsyta med fler, mindre mötesrum avsedda för fokuserat arbete. Den andra trenden ären förhöjd kontorsupplevelse med fullservicekontorsfastigheter där hyresgäster erbjuds en förhöjd jobbupplevelse för att locka tillbaka anställda till kontoret. Tredje trenden är ökade förväntningar på arbetsgivare där arbetstagare kommer att efterfråga en mer flexibel och dynamisk jobbpolicy. Förändrat kontorssyfte utgör den fjärde trenden där framtidens kontor blir mer än enbart en plats att arbeta på, utan även en plats för social interaktion och för att attrahera nya talanger. Sist men inte minst, tid, i syfte att belysa vikten av att låta en viss essentiell tid passera efter man återgått till en mer normal vardag, detta för att undvika kostsamma och icke-fördelaktiga affärsbeslut.