Shenyang City Office Rentals Micro Empirical Research

Office building is the main space for business activities. As the rapid development of the market economy and the prosperity of the commerce in our country , the office building market has been developed correspondingly. But due to the discrepancy of the economic development extent and the difference of the regional economic characteristic among cities, the demand for the office building and the maturity of the building market is diversified..As the regional central city of the northeast of China, Shenyang is the regional commercial center and the material distributing center. Under the background of national "prospering the northeast" strategy, Shenyang is in the economic transformation period. And due to the regional economic status and the economic characteristic of the city, the office building market in Shenyang has its special characteristic, which has huge quantity and comparatively immature market meantime. This paper will analyze the factors that influence the rent of office building from the micro point of view, to find the micro pricing mechanism in the Shenyang office building market under such developing level. After reading large amount of relative literatures, Hedonic Price Model, which has been broadly used to analyzing the real estate price, is used in this paper to analyze the rent of the office building in Shenyang, and establishing the hedonic price model of the office building in Shenyang to analyze the factors that influence the rent of office building. And then the office building hedonic price model of the north-railway-station district where has the highest density of the office building in Shenyang is made to analyze the rent influencing factors in a special district, and compare this two models. In the last, the paper take out two important factors to make deeper analyze, and forecast the developing trend of these factors. The conclusion of this paper could be used to be the reference of marketing decision for the real estate company and the consuming decision of the consumer.