Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas

A before and after hedonic model is used to determine the property value impacts on properties already served by the transit system caused by extensions to Bogota's bus rapid transit system. Asking prices of residential properties belonging to an intervention area (N = 1,407 before, 1,570 after...

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Main Authors: Rodriguez, Daniel A., Mojica, Carlos H.
Format: Journal Article
Language:EN
Published: 2012
Subjects:
Online Access:http://hdl.handle.net/10986/4895
id okr-10986-4895
recordtype oai_dc
spelling okr-10986-48952021-04-23T14:02:20Z Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas Rodriguez, Daniel A. Mojica, Carlos H. Railroads and Other Surface Transportation L920 Economic Development: Regional, Urban, and Rural Analyses Transportation O180 Transportation Systems: Government and Private Investment Analysis Road Maintenance, Transportation Planning R420 A before and after hedonic model is used to determine the property value impacts on properties already served by the transit system caused by extensions to Bogota's bus rapid transit system. Asking prices of residential properties belonging to an intervention area (N = 1,407 before, 1,570 after) or a control area (N = 267 before, 732 after) and offered for sale between 2001 and 2006 are used to determine capitalization of the enhanced regional access provided by the extension. Properties offered during the year the extension was inaugurated and in subsequent years have asking prices that are between 13% and 14% higher than prices for properties in the control area, after adjusting for structural, neighborhood, and regional accessibility characteristics of each property. Furthermore, the appreciation is similar for properties within 500 m and properties between 500 m and 1km of the BRT. 2012-03-30T07:30:16Z 2012-03-30T07:30:16Z 2009 Journal Article Transportation Research: Part A: Policy and Practice 09658564 http://hdl.handle.net/10986/4895 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Colombia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language EN
topic Railroads and Other Surface Transportation L920
Economic Development: Regional, Urban, and Rural Analyses
Transportation O180
Transportation Systems: Government and Private Investment Analysis
Road Maintenance, Transportation Planning R420
spellingShingle Railroads and Other Surface Transportation L920
Economic Development: Regional, Urban, and Rural Analyses
Transportation O180
Transportation Systems: Government and Private Investment Analysis
Road Maintenance, Transportation Planning R420
Rodriguez, Daniel A.
Mojica, Carlos H.
Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
geographic_facet Colombia
relation http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description A before and after hedonic model is used to determine the property value impacts on properties already served by the transit system caused by extensions to Bogota's bus rapid transit system. Asking prices of residential properties belonging to an intervention area (N = 1,407 before, 1,570 after) or a control area (N = 267 before, 732 after) and offered for sale between 2001 and 2006 are used to determine capitalization of the enhanced regional access provided by the extension. Properties offered during the year the extension was inaugurated and in subsequent years have asking prices that are between 13% and 14% higher than prices for properties in the control area, after adjusting for structural, neighborhood, and regional accessibility characteristics of each property. Furthermore, the appreciation is similar for properties within 500 m and properties between 500 m and 1km of the BRT.
format Journal Article
author Rodriguez, Daniel A.
Mojica, Carlos H.
author_facet Rodriguez, Daniel A.
Mojica, Carlos H.
author_sort Rodriguez, Daniel A.
title Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
title_short Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
title_full Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
title_fullStr Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
title_full_unstemmed Capitalization of BRT Network Expansions Effects into Prices of Non-expansion Areas
title_sort capitalization of brt network expansions effects into prices of non-expansion areas
publishDate 2012
url http://hdl.handle.net/10986/4895
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