Announcement of the first metro line and its impact on housing prices in Bogotá

Jeisson Cárdenas, Juan Miguel Gallego, María Alejandra Urrutia

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1 Scopus citations

Abstract

Transport infrastructure investment impacts mobility and may significantly affect the capitalisation of the areas surrounding these infrastructure projects, even before the projects are completed. This paper analyses the impact that the announcement of the First Metro Line has on housing prices in the city of Bogotá. It combines innovative databases, web scraping and Google Maps with administrative records—such as the Bogotá Urban Development Institute (IDU, by its acronym in Spanish) databases—to assess how the announcement of the metro construction impacts the rental or sales market prices for the houses surrounding the infrastructure projects. The results show that the housing sale prices increased since October 2019, the time when the awarding of the contract for construction of the First Metro Line was announced. The flats and houses on sale located within 1.5 km from the future metro stations showed an increase of 10.5 and 6.5% in prices, respectively.

Original languageEnglish (US)
Article number100941
JournalCase Studies on Transport Policy
Volume11
DOIs
StatePublished - Mar 2023

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Transportation
  • Urban Studies

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