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:	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
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
_version_	1764393147155087360

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

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