“…Similarly, Harrami and Paulsson (2017) investigated rent modelling for the Swedish office market and found that the GDP was useful in predicting the direction of the real-estate market. Similar studies in the UK and the USA (Füss, Stein & Zietz, 2012;Tsolacos, 2006;Frankel & Saravelos, 2012;Buehler & Almeida, 2016) report that, in order to create predictive models, identifying the "right" set of variables that combine to trigger changes in the market was the first step. In particular, Buehler and Almeida (2016), noted that the risk of downturns in the commercial real-estate prices in USA cities was attributable to several macroeconomic indicators, including inflation rates, bond yields, consumer confidence, and employment.…”