Citation

Jayakody, Arachchige Chandana Hemantha Thebuwena and Vaz, Anthony (2025) Key determinants of rental rates for A-grade office space in the Colombo-Central Business District: A tenants’ perspective. Issues and Perspectives in Business and Social Sciences, 5 (1). pp. 49-70. ISSN 2785-9266

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Abstract

Property investors and tenants face complicated decision-making due to rent variations among purpose-built office buildings in the same market.While rental discrepancies are accepted as normative across economies, recent trends show the Asian office market experiencing notable growth and instability. This trend is also observed in Colombo's Central Business District (CBD), and thus far, a comprehensive analysis of the drivers behind the fluctuations is lacking. This study aims to fill this gap by examining the determinants of rental ratesfor A-grade office spaces in Colombo from tenants' perspectives through market research.Factors such as building age, occupancy restrictions, maintenance costs, unit size, and additional andgreen features emerge as significant influencers while building brand and additional andgreen features play a moderating role. The study’s findings contribute to the growing body of knowledge that can be used to develop and sustain a healthier office market industry

Item Type:	Article
Uncontrolled Keywords:	Office buildings
Subjects:	T Technology > TH Building construction > TH6014-6081 Environmental engineering of buildings. Sanitary engineering of buildings
Depositing User:	Ms Rosnani Abd Wahab
Date Deposited:	25 Jun 2025 02:56
Last Modified:	25 Jun 2025 02:56
URII:	http://shdl.mmu.edu.my/id/eprint/13962

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