Predicting Commercial Real Estate Rent: An Empirical Study The paper aims to assess the dynamics that affects the retail rental outlets in a metro city considering the case of Mumbai, the commercial capital of India. The study uses a data set of shopping outlets in both shopping malls and standalone stores in this metro city. Regression and CART models are constructed to estimate the importance of the determinants and predict the rental values of the shopping outlets. The findings of the paper clearly indicate the significance of some of the determinants used in the study in predicting rental values. The results of the study would help builders, developers and investors to gain critical and empirical insights into the variables of the retail rent in any emerging real estate market.

Detecting IntraUrban Housing Market Spillover through a Spatial Markov Chain Model This study analyzed the spillovers among intraurban housing submarkets in Beijing, China. Intraurban spillover imposes a methodological challenge for housing studies from the spatial and temporal perspectives. Unlike the interurban spillover, the range of every submarket is not naturally defined; therefore, it is impossible to evaluate the intraurban spillover by standard timeseries models. Instead, we formulated the spillover effect as a Markov chain procedure. The constrained clustering technique was applied to identify the submarkets as the hidden states of Markov chain and estimate the transition matrix. Using a daybyday transaction dataset of secondhand apartments in Beijing during 2011xe2x80x932017, we detected 16 submarketsregions and the spillover effect among these regions. The highest transition probability appeared in the overlapped region of urban core and Tongzhou district. This observation reflects the impact of urban planning proposal initiated since early 2012. In addition to the policy consequences, we analyzed a variety of spillover xe2x80x9ctypesxe2x80x9d through regression analysis. The latter showed that the xe2x80x9cripplexe2x80x9d form of spillover is not dominant at the intraurban level. Other types, such as the spillover due to the existence of price depressed regions, play major roles. This observation reveals the complexity of intraurban spillover dynamics and its distinct drivingforce compared to the interurban spillover.