The Effects of the Bus Rapid Transit Infrastructure on the Property Values in Colombia

Jorge Perdomo Calvo

MPRA Paper from University Library of Munich, Germany

Abstract: Several articles have theoretically and empirically verified favorable changes in the value (per square meter) of properties near urban mass transit infrastructure. The main purpose of this study was to demonstrate this effect under an unbiased specification using Geographical Information Systems (GIS) and advanced econometric techniques (Pooled Cross Sections, Spatial Econometrics, Box-Cox Transformation and Structural Change). Particularly, if the construction of the bus rapid transit (BRT) infrastructure impacted the price market (per square meter or asking price) of the residential and commercial properties in Bogota and Barranquilla (Colombia) with access to the BRT. Results indicated the true private monetary or higher valuation of such properties, caused by public investment over several years (1999-2011). This effect is conceived as a positive economic externality of the BRT projects

Keywords: Property value; BRT infrastructure; Colombia; advanced econometric techniques; unbiased specification (search for similar items in EconPapers)
JEL-codes: C52 L92 R14 R23 R42 (search for similar items in EconPapers)
Date: 2015-10-07
New Economics Papers: this item is included in nep-reg, nep-tre and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/79611/1/MPRA_paper_79611.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:79611

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().