Housing prices, buses and trams in Medellín (Colombia)

Authors

Miquel-Àngel Garcia-López
Luz Yadira Gómez-Hernández

Document Type

Journal Article

Publication Date

2024

Subject Area

place - south america, place - urban, mode - bus rapid transit, mode - tram/light rail, planning - surveys, planning - service quality, ridership - perceptions, land use - impacts

Keywords

Public transportation, MCTS, Real state prices

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.

Rights

Permission to publish the abstract has been given by Elsevier, copyright remains with them.

Comments

Research in Transportation Economics Home Page:

http://www.sciencedirect.com/science/journal/07398859

Recommended Citation

Garcia-López, M. À., & Gómez-Hernández, L. Y. (2024). Housing prices, buses and trams in Medellín (Colombia). Research in Transportation Economics, 106, 101464.