DO HIGH-RISE APARTMENT CONDOS EQUALLY REVALUE THE NEIGHBORING HOUSING? AN ANALYSIS OF —U—OA, SANTIAGO DE CHILE

Carlos Marmolejo Duarte, Esteban Skarmeta Cornejo and Carlos Aguirre Núñez

ERES from European Real Estate Society (ERES)

Abstract: Many studies have analyzed the market premium enjoyed by houses located within gated communities; nevertheless little or no attention has been paid on the impact that such a sort of development produces on the surrounding housing market. This question becomes very important in the cities in which gated communities or other common interest communities, aimed to medium and high socioeconomic groups, are traditionally confined to low incomes enclaves. Salcedo & Torres (2004) and Caceres & Sabatini (2004), from a qualitative perspective, have suggested that this social proximity produces various benefits like improvement of value expectations of land from the original settlers, among others.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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