Table 2.
COVID-19 Effects on price premiums associated with actual housing features (Difference-in-difference regression results)
| Dependent variable: resale price per square meter | ||||||||
|---|---|---|---|---|---|---|---|---|
| (1) 10th + floor | (2) 4 + rooms (3 + bedrooms with a living room) | (3) Within 400 m to subway | (4) Within 2 km to CBD | |||||
| Post-COVID-19 |
453.06 (16.26) |
*** |
449.89 (15.70) |
*** |
477.06 (15.19) |
*** |
467.52 (14.95) |
*** |
| Post-COVID-19 × 10th or higher floor |
35.13 (5.60) |
*** | ||||||
| 10th or higher floor |
303.57 (4.18) |
*** | ||||||
| Post-COVID-19 × four or more rooms |
18.10 (6.40) |
*** | ||||||
| Four or more rooms |
− 121.74 (5.02) |
*** | ||||||
| Post-COVID-19 × near subway |
− 61.78 (6.85) |
*** | ||||||
| Near subway |
256.00 (6.01) |
*** | ||||||
| Post-COVID-19 × near CBD |
− 76.14 (16.62) |
*** | ||||||
| Near CBD |
74.04 (26.66) |
*** | ||||||
| Location characteristics | Y | Y | Y | Y | ||||
| Unit characteristics | Y | Y | Y | Y | ||||
| Year & Month FE | Y | Y | Y | Y | ||||
| Street name FE | Y | Y | Y | Y | ||||
| N | 96,027 | 96,027 | 96,027 | 96,027 | ||||
| Adjusted-R2 | 0.90 | 0.91 | 0.91 | 0.91 | ||||
*p < 0.1; **p < 0.05; ***p < 0.01. Robust standard errors in parentheses
For public housing in Singapore, the living room is included in the number of rooms. So we essentially capture whether the unit has three or more bedrooms