Table 3 Fixed-effect panel regression—commercial real estate
Segments | Office | Industrial real estate | Sales area | |
|---|---|---|---|---|
Dependent variable | Log of median sqm rental price | Log of median sqm rental price | Log of median sqm rental price | |
Variables | (1) | (1) | (2) | (1) |
Location and market rating | 0.1202*** (0.0194) | 0.2045*** (0.0147) | 0.2045*** (0.0147) | 0.1866*** (0.0207) |
Investment per resident | − 0.0084 (0.0111) | − 0.0107 (0.0115) | − 0.0108 (0.0115) | − 0.0148 (0.0172) |
Firm stock | 0.0099* (0.0046) | − 0.0227*** (0.0065) | − 0.0227*** (0.0065) | 0.0150* (0.0075) |
Supply number | 0.0028*** (0.0007) | 0.0082*** (0.0020) | 0.0083*** (0.0020) | 0.0080* (0.0035) |
Population growth | − 0.0533** (0.0203) | − 0.0224 (0.0236) | − 0.0224 (0.0236) | − 0.0565* (0.0266) |
Yields governmental bonds (10 Y) | − 0.0039* (0.0018) | 0.0077** (0.0025) | 0.0104*** (0.0024) | |
Spread commercial | 0.0010 (0.0021) | |||
Year Dummies | Yes | Yes | Yes | Yes |
Quarter Dummies | Yes | Yes | Yes | Yes |
Region fixed effects | Yes | Yes | Yes | Yes |
Adj. R2 | 0.578 | 0.614 | 0.614 | 0.535 |
N | 5936 | 5936 | 5936 | 5936 |