The CBD will survive
Forecasting the impacts of the Covid-19 pandemic on long-term firm location preferences
Dados Bibliográficos
| ID | 21086362 |
|---|---|
| Autores | Akshay Vij (0000-0001-7888-4609, UCL Australia), Ali Ardeshiri (0000-0002-3453-0953, UCL Australia), Lynette Washington (0000-0001-5100-3939, UCL Australia), Chris Leishman (0000-0002-7853-5035, UCL Australia), Andrew Beer (0000-0002-9255-3985, Adelaide University) |
| Ano | 2026 |
| Data de publicação | 2026-06-26 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | Environment and Planning A Economy and Space (JOURNAL) |
| Identificadores do periódico | ISSN: 0308-518X • E-ISSN: 1472-3409 |
| Editora | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0308518x261456582 |
| OpenAlex | W7166093616 |
| Idioma | EN |
| Referências citadas | 40 |
Agglomeration is typically used to explain the benefits of central business districts (CBDs) in large urban areas, but the pandemic has called into question the primacy of CBDs. Previous studies have relied on observational data that uses past behaviour as a predictor of future behaviour. Instead, we conducted a stated preference experiment with 789 businesses to generate robust predictions about the likely future behaviour of firms. Controlling for differences between our sample and the target population in terms of firm size, sector, revenue, and location, we estimate that the average compensating rent differentials for CBD locations are positive and estimated to be $875 per sqm per annum, higher than current market rent differentials in most Australian urban areas. We take this to mean that a substantial proportion of firms strongly value CBD locations and are willing to pay a significantly large premium for the same. Our findings indicate that the changes that were observed in relation to firm location preferences during the pandemic, sometimes characterised as the “donut effect,” are unlikely to be sustained in the long term as the underlying demand for commercial real estate in CBD locations is still strong
Economic rent · Population · Preference · Real estate · Residential real estate · Revealed preference · Sample (material) · Value (mathematics) · Housing Market and Economics · Regional Economics and Spatial Analysis · Urban, Neighborhood, and Segregation Studies
Economic Choices
Covid-19 and digitalization
Chapter 48 Micro-foundations of urban agglomeration economies
Impact of digital surge during Covid-19 pandemic
The Role of Geography in Development
Superstar Cities
Chapter 49 Evidence on the nature and sources of agglomeration economies
The Donut Effect of Covid-19 on Cities
Digital technology use during Covid ‐19 pandemic
Using Surveys to Value Public Goods
Impacts and implications for the post-Covid city
Rural revival? The rise in internal migration to rural areas during the Covid-19 pandemic. Who moved and Where
The evolution of employment and workplaces in metropolitan regions during the pandemic
A new economic geography model of central places
JUE insight
Congestion, agglomeration, and the structure of cities
JUE Insight
JUE Insight
Critical Commentary
Who Benefits from Agglomeration
Increasing Returns and Economic Geography
A ‘donut effect’? Assessing housing transactions during Covid-19 across the Spanish rural–urban hierarchy
Population density, activity centres, and pandemic
| Velocidade de citação | historical |
|---|---|
| Altamente citado | Não |