Work

The effect of disruptive change on the spatial variation of commercial rental prices: The case of the COVID-19 pandemic

Year: 2024

Type: article

Abstract: This study examines spatial variations in the rental price of commercial premises and the factors that explain these variations in the event of a disruptive change such as the COVID-19 pandemic. A novelty of this work is the methodology used to determine the form and radius of influence on these prices (monotonically decreasing buffer with threshold) of heritage monuments as tourist attractions. The methodology is applied to a case study of the city of Granada, Spain, although it could be extrapolated to other cities displaying similar characteristics. The results indicate that commercial rental prices varied in a non-uniform manner throughout the city during the COVID-19 pandemic and that the main streets and prime locations were the most affected. The proposed methodology can be used to guide political and business decision-making in other disruptive situations.

Source: Journal of Retailing and Consumer Services

DOI: 10.1016/j.jretconser.2024.104111

Authors: Rafael Cano-Guervos, Jorge Chica-Olmo, Jorge Chica-Garcia

Institutions: Universidad de Granada, Universidad de Málaga

Language: English

Topic: Housing Market and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Sustainable cities and communities

Open Access status: hybrid

Estimated APC paid: $3,800