文章基本信息

标题：Price and Spatial Distribution of Office Rental in Madrid: A Decision Tree Analysis
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作者：Máximo Camacho ; Salvador Ramallo ; Manuel Ruiz 等
期刊名称：Economía
印刷版ISSN：0254-4415
电子版ISSN：2304-4306
出版年度：2021
卷号：44
期号：87
语种：English
出版社：Pontificia Universidad Católica del Perú
摘要：In this paper, we assess the drivers of office rental prices in the municipality of Madrid with a sample of 4,721 offices in March, 2020. The estimation was performed using the decision tree approach, which was built with a random forest algorithm. This technique allows us to capture the strong nonlinear component in the relation between price and its drivers, mainly geospatial location. Through a stratified analysis, we find out that the willingness to pay high rent in the center of Madrid is a feature of particular relevance to medium-sized offices. For diferent reasons, we also find out some office clusters located far from the city center with high rent for both large and small offices.