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by sudosysgen 1968 days ago
The 1% decrease is instantaneous at the opening of the building compared to other spaces where no building was done at 0%. It's not an annualized rate. "No impact" in the study means that there is no detectable correlation, not that rent doesn't increase nor decrease.

Beyond that, if it actually was a 1% total decrease (which it isn't), you can bet your ass the author would have written that as 7.6% relative decrease cause by construction, instead of 0-2%.