The aim of this paper is to provide and apply a financial and property approach to the analysis of office-space markets, so as to be able to analyse, in particular, the last boom-bust cycle in the Paris region. Within this context, we consider property and office buildings mainly as investments, to be assessed according to the rules of portfolio analysis for financial assets. This means that property prices and more generally property cycles can also be explained according to investment criteria. In that way, we try to complete the usual functional approach towards office markets, based mainly on the study of the office space market and the analysis of its consumers' demand function.
NAPPI-CHOULET, I. (1995). Pour une approche immobilière et financière des marchés de bureaux. Revue d'Économie Régionale & Urbaine, pp. 481-500.