Neighbourhood externalities, structuring of the intra-urban space and price of property: evidences to the flat market in Belo Horizonte
- Authors
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Luiz Andrés Ribeiro Paixão
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- Keywords:
- Economia urbana, preços hedônicos, planejamento urbano.
- Abstract
- The purpose of this paper is to provide an application of a hedonic model to estimate the implicit price of neighbourhood externalities in apartment prices in Belo Horizonte city. We included in the model a group of variables that we had judged to be relevant in the apartment’s price formation. Physical and location variables were included. Our main result is that the social composition of a neighbourhood is an important item in the valuation of an apartment. Characteristics like good condition, new building, located near the city centre and in a neighbourhood where there is a great commercial activity and good quality schools increases the price of an apartment. On the other hand, apartments located in a neighbourhood where there is great urban equipment or with high criminality level have lower prices. Key words: urban economics; hedonic price model; urban planning. JEL classification: R21. Artigo recebido em dez. 2008.
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- Published
- 2010-10-28
- Issue
- Vol. 31 No. 1 (2010)
- Section
- Artigos
- License
- A remessa dos artigos à revista implica a cessão dos direitos autorais à FEE.