Estimation of potential value increase in Barranquilla’s plot of land for period 2001-2011. Estimation of panel data with fixed effects.

Authors

  • Dann Payares Ayola Universidad del Norte

Keywords:

Value increase of land, hedonic pricing model, hand prices, panel data

Abstract

This paper determines the potential of value increase of land per square meter (square meter lot) of neighborhoods of the city of Barranquilla (Colombia). It is based on monthly data for the period 2001-2011. It uses information from appraisals, which contain: commercial appraisal, socioeconomic status, number of floors of the building, the total area of the lot (land) value per square meter of surface area, the square meter value of the plot of land and the total value trade. It is estimated a hedonic regression model with fixed effects panel data, which is taken as the dependent variable the value of a square meter lot (land). Valuations are expected over the estimated theoretical model for areas with higher socioeconomic status or those located north of the city, which in turn are contiguous area with space available for new housing developments. Given the results were confirmed valuations expected by geographic area.

Author Biography

Dann Payares Ayola, Universidad del Norte

Profesor e investigador del Instituto de Estudios Económicos del Caribe y miembro del Grupo de Investigación en Análisis Económico (GRANECO), Universidad del Norte, Barranquilla (Colombia). Director del Observatorio Inmobiliario del Área Metropolitana de Barranquilla

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Published

2012-12-13

Issue

No. 10: JUN-DEC 2012

Section

Science article

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