Housing prices, buses and trams in Medellín (Colombia)

Miquel-Àngel Garcia-López and Luz Yadira Gómez-Hernández

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper aims to establish the impact of two medium-capacity transportation systems (MCTS) on housing prices in Medellín (Colombia): Metroplús, a bus rapid transit (BRT) system, and Tranvía, a tramway system. Using repeated cross-sectional data from the Medellín Quality of Life Survey from 2008 to 2018 and difference-in-differences estimators, we find that Metroplús has a negative impact on the growth of rental prices, whereas Tranvía has a positive impact. We do not find any effect on several other outcomes, such as the perception of quality and coverage of the public transportation in the neighborhoods they serve, and the number of private vehicles in the household.

Keywords: MCTS; public transportation; real state prices (search for similar items in EconPapers)
JEL-codes: R40 R58 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2024-09-01
New Economics Papers: this item is included in nep-tre and nep-ure
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Published in Research in Transportation Economics, 1, September, 2024, 106. ISSN: 0739-8859

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http://eprints.lse.ac.uk/124523/ Open access version. (application/pdf)

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Journal Article: Housing prices, buses and trams in Medellín (Colombia) (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:124523

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