Factor Analysis of Rent Using Space Syntax Measures: Comparative Analysis by Building Use around Shibuya Station

Abstract

AbstractThe determinants of residential, office and commercial rent are each analyzed by taking the 10 min walking distance area around Shibuya Station in Tokyo as the research target area. Conventional physical and quantitative factors such as distance from the nearest station, the width of the frontal road, age of the building, the number of floors, total floor area, contracted floor area, building structure etc. are included in the multiple-regression analysis as well as qualitative factors such as the visible area representing visibility on a main street and the integration value representing street network centrality—easy accessibility from other locations such as any intersection points—based on the space syntax measures (SS measures) used in the analysis by Jake Desyllas from University College of London. It is shown that both SS measures affect the rent for all the residential, office and commercial uses with the statistically significant level of 5%. It is quantitatively confirmed that the residential rent increases in a secluded location, and the office and commercial rent rise in a location with high street network centrality and good access, which would suggest that the SS measures are crucial important rent factors for residential, offices, and commercial uses in other places in Japan.