Table 4. Results of quantile regression...

Table 4.

Results of quantile regression by duration of vacancies

Model number	Periods of vacancy	(I) Mean		(II) Bottom 10%		(III) Median		(IV)Top 10%
Model number	Periods of vacancy			Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.
1–4	All the vacancies	−0.067	0.033*	−0.107	0.028***	−0.056	0.018**	−0.013	0.033
5–8	1 month+	−0.057	0.035	−0.131	0.030***	−0.043	0.031	0.019	0.028
9–12	2 month+	−0.078	0.037*	−0.150	0.034***	−0.085	0.030**	0.054	0.028†
13–16	3 month+	−0.093	0.042*	−0.161	0.027***	−0.100	0.038**	0.051	0.039
17–20	4 month+	−0.111	0.047*	−0.173	0.039***	−0.137	0.037***	0.049	0.038
21–24	5 month+	−0.102	0.053†	−0.222	0.039***	−0.123	0.043**	0.062	0.069
25–28	6 month+	−0.110	0.056*	−0.232	0.082**	−0.123	0.050*	0.058	0.070
29–32	7 month+	−0.148	0.060*	−0.236	0.926	−0.151	0.034***	−0.042	0.045
33–36	8 month+	−0.164	0.063**	−0.277	0.096**	−0.161	0.053**	−0.049	0.072
37–40	9 month+	−0.179	0.066**	−0.279	0.087**	−0.195	0.039***	−0.049	0.046
41–44	10 month+	−0.193	0.068**	−0.321	0.102**	−0.190	0.047***	−0.050	0.047
45–48	11 month+	−0.214	0.074**	−0.355	0.129**	−0.212	0.051***	−0.053	0.058
Obs.	3,627

Modelnumber	Periods of vacancy	(I) Mean		(II) Bottom 10%		(III) Median		(IV)Top 10%
Modelnumber	Periods of vacancy			Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.	Coef.	Std. Err.
1–4	All the vacancies	−0.067	0.033*	−0.107	0.028***	−0.056	0.018**	−0.013	0.033
5–8	1 month+	−0.057	0.035	−0.131	0.030***	−0.043	0.031	0.019	0.028
9–12	2 month+	−0.078	0.037*	−0.150	0.034***	−0.085	0.030**	0.054	0.028†
13–16	3 month+	−0.093	0.042*	−0.161	0.027***	−0.100	0.038**	0.051	0.039
17–20	4 month+	−0.111	0.047*	−0.173	0.039***	−0.137	0.037***	0.049	0.038
21–24	5 month+	−0.102	0.053†	−0.222	0.039***	−0.123	0.043**	0.062	0.069
25–28	6 month+	−0.110	0.056*	−0.232	0.082**	−0.123	0.050*	0.058	0.070
29–32	7 month+	−0.148	0.060*	−0.236	0.926	−0.151	0.034***	−0.042	0.045
33–36	8 month+	−0.164	0.063**	−0.277	0.096**	−0.161	0.053**	−0.049	0.072
37–40	9 month+	−0.179	0.066**	−0.279	0.087**	−0.195	0.039***	−0.049	0.046
41–44	10 month+	−0.193	0.068**	−0.321	0.102**	−0.190	0.047***	−0.050	0.047
45–48	11 month+	−0.214	0.074**	−0.355	0.129**	−0.212	0.051***	−0.053	0.058
Obs.	3,627

Notes: Statistical significance levels: *** 0.1%; ** 1%; * 5%; † 10%. The response variable is ln(monthly rent). The independent variables are ln(floor area), ln(building age), ln(number of stories), ln(total number of apartment units), floor plans, ln(distance to the nearest station), and ln(distance to the Tokyo CBD). Standard errors are calculated by bootstrap sampling with 20 repetitions

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