A methodological proposal to estimate changes of residential property value: case study developed in Bogota

Jorge Andres, Perdomo Calvo and Jorge Andres, Perdomo Calvo (2011): A methodological proposal to estimate changes of residential property value: case study developed in Bogota. Published in: Applied Economics Letters , Vol. 16, No. 18 (11 August 2011): pp. 1577-1581.

Abstract

This article is an empirical study of residential land values in the vicinity of the TransMilenio system (Bus Rapid Transit, BRT) in Bogota´ (Colombia). The results have been established through impact evaluation by means of nonparameteric approaches (Propensity Score Matching, PSM) and econometric approaches (Spatial Hedonic Price, SHP) indicating that access to the BRT system generates benefits on the change of property value.

• Item Type: MPRA Paper
• Language: English
• Keywords: TransMilenio; Bogota´ ; impact evaluation; propensity score matching; spatial hedonic price; change of property value
• Subjects: L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L92 - Railroads and Other Surface Transportation; C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C14 - Semiparametric and Nonparametric Methods: General; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C52 - Model Evaluation, Validation, and Selection; C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C25 - Discrete Regression and Qualitative Choice Models ; Discrete Regressors ; Proportions ; Probabilities; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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