14th Economics & Finance Virtual Conference, Lisbon

HOUSING PRICES AND PUBLIC TRANSPORTATION IMPROVEMENTS. EVIDENCE FROM MEDELLIN, COLOMBIA.

LUZ YADIRA GOMEZ-HERNANDEZ, MIQUEL-ANGEL GARCIA-LOPEZ

Abstract:

This paper aims to establish the impact of the Metroplus, the BRT system of Medellin, on housing prices in the city. Using repeated cross-section data from the Quality of Life Survey of Medellin for 2010 and 2014, and a difference-in-differences estimator at the city level as well as per city zones, we found that accessibility to Metroplus had a negative impact on the growth of the rental prices. Results are associated with the differences in demographic characteristics and infrastructure across areas.

Keywords: Public transportation, Bus Rapid Transit. Hedonic price model, Difference in Difference Estimator.

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