Segments | Rental apartments | Houses | Owner-occupied flats | |||||
---|---|---|---|---|---|---|---|---|
Dependent variable | Log of median sqm rental price | Log of median sqm prices | Log of median sqm prices | |||||
Variables | (1) | (2) | (1) | (2) | (3) | (1) | (2) | (3) |
Location and market rating | 0.0244*** (0.0067) | 0.0244*** (0.0067) | 0.0421*** (0.0095) | 0.0421*** (0.0095) | 0.0604*** (0.0111) | 0.0426*** (0.0114) | 0.0425*** (0.0114) | 0.0634*** (0.0113) |
Investment per resident | 0.0275*** (0.0059) | 0.0275*** (0.0059) | 0.0070 (0.0106) | 0.0070 (0.0106) | 0.0042 (0.0124) | 0.0274** (0.0086) | 0.0274** (0.0086) | 0.0240* (0.0110) |
Housing stock | 0.0021 (0.0012) | 0.0021 (0.0012) | 0.0054** (0.0017) | 0.0055** (0.0017) | 0.0049** (0.0017) | 0.0058** (0.0019) | 0.0058** (0.0019) | 0.0048* (0.0020) |
Vacancy rate | − 0.0034 (0.0041) | − 0.0034 (0.0041) | − 0.0382* (0.0175) | − 0.0383* (0.0175) | − 0.0229 (0.0148) | 0.0070 (0.0205) | 0.0069 (0.0206) | 0.0007 (0.0218) |
Population growth | − 0.0168 (0.0089) | − 0.0168 (0.0089) | − 0.0138 (0,0156) | − 0.0138 (0.0156) | − 0.0046 (0.0116) | − 0.0605*** (0.0170) | − 0.0605*** (0.0170) | − 0.0363* (0.0157) |
Yields governmental bonds (10 Y) | − 0.0039*** (0.0010) | − 0.0065*** (0.0011) | − 0.0152*** (0.0013) | |||||
Variable mortgage rates | − 0.0146*** (0.0041) | − 0.0228*** (0.0048) | ||||||
Spread residential | 0.0043*** (0.0009) | |||||||
Fixed mortgage rates (10 Y) | − 0.0101*** (0.0012) | − 0.0183*** (0.0017) | ||||||
Year dummies | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Quarter dummies | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Region fixed effects | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Adj. R2 | 0.764 | 0.764 | 0.850 | 0.850 | 0.795 | 0.895 | 0.895 | 0.865 |
N | 5936 | 5936 | 5936 | 5936 | 4664 | 5936 | 5936 | 4664 |