Property value assessment in Rio de Janeiro: the effects of transport investments
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Outros Autores: | , |
Tipo de documento: | Artigo de conferência |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/29485 |
Resumo: | This research assesses the effects of public urban transportation investments on property prices in Rio de Janeiro, Brazil. Our hypothesis is that opening a new transportation station increases access to the city for properties in their vicinity. The closer to the station, and the more accessibility to jobs the station offers, the more likely it is expected to be valued. Our contributions for this literature are threefold: first, we assess together two types of service, Subway and BRT. Second, we test other variable that represent accessibility, as well as distance to the station. A growing number of transport agencies, particularly in North America and Europe, use similar accessibility analysis to compare the benefits of potential transportation investments and evaluate their social impacts. The third contribution is to use home-sharing data (Airbnb) as a proxy for property prices. It allows us to adopt a fixed effect control variable for houses rather than the traditional hedonic regression approach. Results corroborates literature that shows that major improvements to public transport systems result in significant changes in real-estate prices. In cities with complex geographical barriers, like Rio de Janeiro, considering distance to station rather than other measures of accessibility can underestimate the capitalization effects. |
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Varejão Neto, Edmilson de SiqueiraPereira, Rafael Henrique MoraesTrindade, André Garcia de OliveiraDemais unidades::RPCA2020-07-20T20:28:08Z2020-07-20T20:28:08Z2019https://hdl.handle.net/10438/29485This research assesses the effects of public urban transportation investments on property prices in Rio de Janeiro, Brazil. Our hypothesis is that opening a new transportation station increases access to the city for properties in their vicinity. The closer to the station, and the more accessibility to jobs the station offers, the more likely it is expected to be valued. Our contributions for this literature are threefold: first, we assess together two types of service, Subway and BRT. Second, we test other variable that represent accessibility, as well as distance to the station. A growing number of transport agencies, particularly in North America and Europe, use similar accessibility analysis to compare the benefits of potential transportation investments and evaluate their social impacts. The third contribution is to use home-sharing data (Airbnb) as a proxy for property prices. It allows us to adopt a fixed effect control variable for houses rather than the traditional hedonic regression approach. Results corroborates literature that shows that major improvements to public transport systems result in significant changes in real-estate prices. In cities with complex geographical barriers, like Rio de Janeiro, considering distance to station rather than other measures of accessibility can underestimate the capitalization effects.engResidential property valuationHouse pricesTransport innovationsCiências sociaisTransporte urbano - Rio de Janeiro (Estado)Property value assessment in Rio de Janeiro: the effects of transport investmentsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessProperty value assessment in Rio de Janeiro: the effects of transport investmentsProjetos de Pesquisa AplicadaORIGINALProperty Value Assessment.pdfProperty Value Assessment.pdfapplication/pdf400178https://repositorio.fgv.br/bitstreams/790cd518-2e6a-4228-8229-0c2571bc36e1/download3555b2712a85a781714b7cd29831ea23MD51LICENSElicense.txtlicense.txttext/plain; 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dc.title.por.fl_str_mv |
Property value assessment in Rio de Janeiro: the effects of transport investments |
title |
Property value assessment in Rio de Janeiro: the effects of transport investments |
spellingShingle |
Property value assessment in Rio de Janeiro: the effects of transport investments Varejão Neto, Edmilson de Siqueira Residential property valuation House prices Transport innovations Ciências sociais Transporte urbano - Rio de Janeiro (Estado) |
title_short |
Property value assessment in Rio de Janeiro: the effects of transport investments |
title_full |
Property value assessment in Rio de Janeiro: the effects of transport investments |
title_fullStr |
Property value assessment in Rio de Janeiro: the effects of transport investments |
title_full_unstemmed |
Property value assessment in Rio de Janeiro: the effects of transport investments |
title_sort |
Property value assessment in Rio de Janeiro: the effects of transport investments |
author |
Varejão Neto, Edmilson de Siqueira |
author_facet |
Varejão Neto, Edmilson de Siqueira Pereira, Rafael Henrique Moraes Trindade, André Garcia de Oliveira |
author_role |
author |
author2 |
Pereira, Rafael Henrique Moraes Trindade, André Garcia de Oliveira |
author2_role |
author author |
dc.contributor.unidadefgv.por.fl_str_mv |
Demais unidades::RPCA |
dc.contributor.author.fl_str_mv |
Varejão Neto, Edmilson de Siqueira Pereira, Rafael Henrique Moraes Trindade, André Garcia de Oliveira |
dc.subject.por.fl_str_mv |
Residential property valuation House prices Transport innovations |
topic |
Residential property valuation House prices Transport innovations Ciências sociais Transporte urbano - Rio de Janeiro (Estado) |
dc.subject.area.por.fl_str_mv |
Ciências sociais |
dc.subject.bibliodata.por.fl_str_mv |
Transporte urbano - Rio de Janeiro (Estado) |
description |
This research assesses the effects of public urban transportation investments on property prices in Rio de Janeiro, Brazil. Our hypothesis is that opening a new transportation station increases access to the city for properties in their vicinity. The closer to the station, and the more accessibility to jobs the station offers, the more likely it is expected to be valued. Our contributions for this literature are threefold: first, we assess together two types of service, Subway and BRT. Second, we test other variable that represent accessibility, as well as distance to the station. A growing number of transport agencies, particularly in North America and Europe, use similar accessibility analysis to compare the benefits of potential transportation investments and evaluate their social impacts. The third contribution is to use home-sharing data (Airbnb) as a proxy for property prices. It allows us to adopt a fixed effect control variable for houses rather than the traditional hedonic regression approach. Results corroborates literature that shows that major improvements to public transport systems result in significant changes in real-estate prices. In cities with complex geographical barriers, like Rio de Janeiro, considering distance to station rather than other measures of accessibility can underestimate the capitalization effects. |
publishDate |
2019 |
dc.date.issued.fl_str_mv |
2019 |
dc.date.accessioned.fl_str_mv |
2020-07-20T20:28:08Z |
dc.date.available.fl_str_mv |
2020-07-20T20:28:08Z |
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eng |
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eng |
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