The profitable influence of lease incentives for new office developments: A research on the phenomenon of office real estate developments (out)competing existing assets on effective rent levels without loss of quality

Dutch developers are thought to have been able to outcompete the owners of existing office space on rental pricing (the phenomenon). For tenants it was more inexpensive to move to newly proposed (not yet existent) office space than to remain where they are, or move to other existing office space. Three theoretical reasons were identified for the...