Urban regulation, prices and housing informality in Cartagena de Indias
Keywords:
Housing, planning, price, informalAbstract
This paper attempts to find a relationship between the level of rigidity of urban regulation, the average price per square meter of housing and the percentage thereof which are classified as informal in the city of Cartagena de Indias. It is proposed that the highest standards generate higher formal housing prices and this can generate higher proportion of informal housing in a neighborhood or nearby neighborhoods. Based on econometric estimates and the use of Geographic Information Systems (GIS), concludes that differences in regulations between neighborhoods affect the price differential, making it more expensive to the most regulated; also there is evidence that increasing the housing average price, the proportion of informal housing in the neighborhood is less.
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