Impact of socioeconomic characteristics in Brazilian real estate market choices: a case study in the city of Recife-PE, Brazil

Souza Leão, Fernando pontual de, Cristóvão de Souza Brito and Edgard Leonardo N. Lima

ERES from European Real Estate Society (ERES)

Abstract: The objective of this paper is to analyze the impact of socioeconomic characteristics of neighborhoods in Recife-PE, Brazil, that determines the preferences of real estate market developers. To achieve the proposal it was used a cluster analysis in the database of ITBI (Tax on Transfer of housing Property), gotten with a Recife City Hall. The socioeconomic characteristics of neighborhoods are included as input variables jointly with the real estate market performance indicators of each neighborhood. The result indicates that the neighborhoods with high level values of socioeconomic indicators present more efficiency to real estate investments of promoters. There is a tendency to a concentration of real estate activities in the reach places of the city, even with other places that have appropriate geomorphologic characteristics and low land prices. The study presents a real estate investment map in the city territory. The real estate market expansion doesn´t occupies these areas. This implies in great urban problems, like difficult traffic mobility and deficient urban services (water supply, sanitation system, and others).

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2014-01-01
New Economics Papers: this item is included in nep-cse and nep-ure
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