A Methodological Proposal to Estimate Changes of Residential Property Value: Case Study Developed in Bogotá
Posted: 28 Mar 2012
Date Written: March 30, 2011
This article is an empirical study of residential land values in the vicinity of the TransMilenio system (Bus Rapid Transit, BRT) in Bogota' (Colombia). The results have been established through impact evaluation by means of nonparameteric approaches (Propensity Score Matching, PSM) and econometric approaches (Spatial Hedonic Price, SHP) indicating tha access to the BRT system generates benefits on the change of property value.
Keywords: TransMilenio, Bogota', impact evaluation, propensity score matching, spatial hedonic price, change of property value
JEL Classification: C14, C25, C52, L92, R11
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