The power of context and location : a spatial approach to model the market for new housing in Bogota, Colombia

This study introduces a geographical approach to analyze the market for new housing in Bogota, Colombia and address limitations of currently available research that is not sensitive to underlying spatial determinants in this city. The overall purpose of this investigation is to provide a framework to evaluate this market from a data-driven perspective in a context where information is often limited or disperse, while illustrating the importance of spatial interactions to develop estimations through quality-adjusted hedonic price models. The analysis is based on a dataset with information of more than 400 thousand new condominium transactions during the period between August 2010 and August 2018 in Bogota and surrounding municipalities. The properties are reverse-geocoded, assigned to their specific local planning jurisdictions within the city and surroundings, and analyzed in relation to their structural parameters.

Name thesis:degree_name

Master

Department dc:contributor.department

Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2019

Author dc:creator

• Pérez Sarralde, Sebastian.

Advisor dc:contributor.advisor

• Andrea Chegut.

• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

https://hdl.handle.net/1721.1/122196

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/122196