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The Impact of the Sense of Security from Crime on Residential Property Values in Brazilian Metropolitan Areas

Author

Listed:
  • Massena, Rosa M. R.
  • BeltraÞo, Kaizô I.
  • Vetter, David M.

Abstract

Using a hedonic residential rent model for Brazil's metropolitan areas calibrated with microdata from Brazil's annual household survey, this study estimates that increasing the sense of security in the home by one standard deviation would increase average home values by R$1,513 (US$757), or about US$13. 6 billion if applied to all 18.0 million households in the study area. The principal components analysis of sense of security and crime victimization variables indicates that higher-income households feel more secure from crime in the home, even though theft and robbery victimization rise with household income and rent level. Higher levels of home protection measures by higher-income households partially explain this result.

Suggested Citation

  • Massena, Rosa M. R. & BeltraÞo, Kaizô I. & Vetter, David M., 2013. "The Impact of the Sense of Security from Crime on Residential Property Values in Brazilian Metropolitan Areas," IDB Publications (Working Papers) 4616, Inter-American Development Bank.
    • Handle: RePEc:idb:brikps:4616
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    Citations

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    Cited by:

    1. Hugo Castro Noblejas & Pierfrancesco De Paola & Jesús Vías Martínez, 2023. "Landscape Value in the Spanish Costa del Sol’s Real Estate Market: The Case of Marbella," Land, MDPI, vol. 12(5), pages 1-16, April.
    2. Daniel W. Gingerich & Virginia Oliveros, 2018. "Police Violence and the Underreporting of Crime," Economics and Politics, Wiley Blackwell, vol. 30(1), pages 78-105, March.
    3. Varios Autores, 2015. "Política criminal y “prevención”," Books, Universidad Externado de Colombia, Facultad de Derecho, edition 1, number 788.

    More about this item

    Keywords

    Sense of security; Crime; Hedonic residential rent model;
    All these keywords.

    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • 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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