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Housing prices and submarkets in Mexico City: a hedonic assessment

Author

Listed:
  • Jaime Sobrino

    (El Colegio de Mexico)

Abstract

The objective of this paper is to explore the role of some quantitative variables in explaining housing prices, and how these variables can be used for the spatial delimitation of housing submarkets. The methodological strategy incorporates issues from the spatial economic theory, and an econometric model of hedonic prices to analyze the main characteristics of housing demand in Mexico City. Housing submarkets are delimited by using a statistical multivariate tool, two-step, log likelihood cluster analysis, in terms of intra-urban relative house differentials. The models are estimated using cross-sectional data from the 2010 micro-data of Mexico's National Survey of the Households' Incomes and Expenditures.

Suggested Citation

  • Jaime Sobrino, 2014. "Housing prices and submarkets in Mexico City: a hedonic assessment," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 29(1), pages 57-84.
    • Handle: RePEc:emx:esteco:v:29:y:2014:i:1:p:57-84
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    File URL: https://estudioseconomicos.colmex.mx/index.php/economicos/article/view/74/75
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    Citations

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    Cited by:

    1. Erick Guerra & Shengxiao Li & Ariadna Reyes, 2022. "How do low-income commuters get to work in US and Mexican cities? A comparative empirical assessment," Urban Studies, Urban Studies Journal Limited, vol. 59(1), pages 75-96, January.
    2. Davor Kunovac & Karlo Kotarac, 2019. "Residential Property Prices in Croatia," Surveys 37, The Croatian National Bank, Croatia.
    3. Estebania Teyeliz Martínez-Jiménez & Julie Le Gallo & Enrique Pérez-Campuzano & Alonso Aguilar Ibarra, 2022. "The effects of land price in the peri-urban fringe of Mexico City: Environmental amenities for informal land parcel purchasers," Urban Studies, Urban Studies Journal Limited, vol. 59(1), pages 222-241, January.
    4. Monkkonen, Paavo, 2016. "Where do Property Rights Matter More? Explaining the Variation in Demand for Property Titles across Cities in Mexico," World Development, Elsevier, vol. 88(C), pages 67-78.

    More about this item

    Keywords

    Mexico City; urban housing market; housing units; housing submarkets; hedonic models of housing prices.;
    All these keywords.

    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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