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Abstract

The volatility in the commercial real estate market has been greatly influenced by the new societal practices brought about by the COVID-19 pandemic. The COVID-19 pandemic has added additional factors to already complex modeling to value and predict commercial real estate prices. Although multiple methodologies have been applied to commercial real estate valuation, these methods have not yet taken the COVID-19 pandemic factor into account. The main contribution of this article lies in developing an application for commercial real estate valuation which includes the COVID-19 pandemic factor. Thought this article a Hedonic model was developed to compare the impacts of commercial real estate pricing with and without COVID-19 impacts. The model showed no significant changes in the geographic areas analyzed when COVID-19 parameters were input into the model.

Creative Commons License

Creative Commons Attribution-Noncommercial 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License

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