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Housing prices, buses and trams in Medellín (Colombia)

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  • Garcia-López, Miquel Àngel
  • Gómez-Hernández, Luz Yadira

Abstract

This paper aims to establish the impact of two medium-capacity transportation systems (MCTS) on housing prices in Medellín (Colombia): Metroplús, a bus rapid transit (BRT) system, and Tranvía, a tramway system. Using repeated cross-sectional data from the Medellín Quality of Life Survey from 2008 to 2018 and difference-in-differences estimators, we find that Metroplús has a negative impact on the growth of rental prices, whereas Tranvía has a positive impact. We do not find any effect on several other outcomes, such as the perception of quality and coverage of the public transportation in the neighborhoods they serve, and the number of private vehicles in the household.

Suggested Citation

  • Garcia-López, Miquel Àngel & Gómez-Hernández, Luz Yadira, 2024. "Housing prices, buses and trams in Medellín (Colombia)," LSE Research Online Documents on Economics 124523, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:124523
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    Keywords

    MCTS; public transportation; real state prices;
    All these keywords.

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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