Office vacancy during times of crisis: A study to key drivers of vacancy of office locations in the Netherlands
The goal of this research is to examine whether there is a causal relation between drivers of vacancy and the vacancy rates of office locations in the Netherlands. This to conclude if covid-19 influenced the office market on a short-term or long-term basis. This provides investors and advisors with a better understanding of factors that influence office vacancy in certain office locations in times of a crisis. Quantitative research has been done to analyse the composite dataset. with the descriptive statistics and bivariate correlation analysis. Also multiple regression analysis has been carried out. First, which and whether these drivers show a causal relationship with the vacancy rates in various office locations throughout the Netherlands. Secondly, whether these drivers can be affected by a crisis time like Covid-19 which causes vacancy rates to change in these areas. An exceptional crisis like Covid-19 has yet no visible influence on the vacancy drivers and on the overall vacancy rate. A follow-up study at a later stage in the near future may yield different results, as leases will expire in due course and organisations will be forced to make a choice in their future use and possession of square metres of floor space.
Faculteit der Managementwetenschappen