Can space syntax help us in understanding the intraurban office rent pattern?: Accessibility and rents in Downtown Stockholm

The effect of accessibility upon rent is investigated for office properties located in Downtown Stockholm. Starting from the firm's cost minimization problem, a translog hedonic model is derived. The results suggest the model has good predictive power in explaining the variation in the log of the rent. A negative rent gradient is obtained with a base approximately 90 m from the postulated focal point. It appears as if Space Syntax adds important information to the understanding of the intraurban office rent pattern.