Public infrastructure and housing prices: An application of geographically weighted regression within the context of hedonic prices

Ecos de Economía: A Latin American Journal of Applied Economics

Jorge Agudelo¹  Juan Carlos Duque¹  Hermilson Velásquez Ceballos¹ 

[1] Universidad EAFIT

关键词: Real state;    GWR;    Geographically Weighted Regression;    Hedonic prices;    Metro station.;   

DOI  :  

学科分类：社会科学、人文和艺术（综合）

来源: Universidad Eafit

【 摘 要 】

The analysis of externalities in real state has been matter of study during the past few years. In this paper we use both conventional and spatial econometric model, as well as geographically weighted regression models, to measure the effect of the San Javier Metro Station (in Medellín, Colombia) on the housing prices of the surrounding area.The main finding of this study is that the metro station has a positive impact on the prices of houses located within a radius of 600 meter from the station. However, the railroad track accessing the station has a negative impact on housing prices located nearby.

【 授权许可】

Unknown