涓�nbsp; 棰橈細The Effect of Infrastructure Spending on the Property Sector
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The increasing spending on the public infrastructure raises the question: how will the property sector benefit from the massive infrastructure constructions? This paper uses panel data in major Indian cities spanning seven years from 2008 to 2014 to ascertain the impact of infrastructure attributes on the property values. Macro economy fixed effects are included to control for city level unobservables. The empirical evidence produces significant evidence of the infrastructure spending on the property sector. The study finds that increases in percent of public infrastructure spending have a positive effect on the cap rate in India, but a negative impact on the rental market in the short term. Finally, the effect of changes in the public infrastructure is examined over the different construction period so as to focus on the long-run effect, which is more likely to be capitalized into cap rate in the long run.
涓昏浜虹畝浠嬶細
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娆㈣繋鍏虫敞娴欐睙澶у鍏叡绠＄悊瀛﹂櫌瀹樻柟寰俊
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