Development of Hedonic Office Rent Indices

Examples for German Metropolitan Areas

  • Simon Kempf

Part of the Essays in Real Estate Research book series (ERER)

Table of contents

  1. Front Matter
    Pages I-XLIII
  2. Simon Kempf
    Pages 1-22
  3. Simon Kempf
    Pages 71-148
  4. Simon Kempf
    Pages 149-222
  5. Simon Kempf
    Pages 253-261
  6. Back Matter
    Pages 262-371

About this book


Simon Kempf has developed hedonic (quality-adjusted) office rent indices for German metropolitan areas. His study explores new territory as it constructs, for the first time, such indices for Germany. The author thereby has taken into account the different qualities of the underlying lease contracts regarding location factors, lease factors, building factors, equipment and layout factors of the office rental unit – using more than 22,005 office lease contracts stored in the Rental Databank of IPD GmbH in Wiesbaden. This hedonic index construction methodology is well known among real estate researchers and statisticians, but it has been mainly used in the residential sector. As a second novelty the multiple imputation method in the statistical analysis to solve the problem of missing data is employed. Quality-adjusted office rent indices serve as market and economic indicators as well as a bench-marking instrument.


  • Fundamental of the Office Property Market and the Implications for Hedonic Price Indices
  • Office Rent Determinants
  • Hedonic Analysis of German Office Rents
  • Development, Application and Evaluation of Hedonic Office Rent Indices

Target Groups

  • Researchers in the field of real estate management and investment
  • Real estate developers, portfolio managers, investors, valuers, occupiers

About the Author

Dr. Simon Kempf wrote his dissertation at the Real Estate Management Institute (REMI) of the EBS European Business School.


Rental Databank average office rent bench-marking instrument location factors office lease contracts office rental unit

Authors and affiliations

  • Simon Kempf
    • 1
  1. 1.Real Estate Management InstituteEBS Business SchoolWiesbadenGermany

Bibliographic information

Industry Sectors
Finance, Business & Banking