Bus rapid transit and property values in Buenos Aires: Combined spatial hedonic pricing and propensity score techniques
place - south america, mode - bus rapid transit, land use - impacts
Bus rapid transit, Buenos aires, Argentina, Property value, Hedonic pricing, Spatial econometrics, Propensity score matching, Propensity score weighting, Trimmed estimations
This study estimates the impact on property value of one of the first Bus Rapid Transit (BRT) in Buenos Aires, Argentina. Data comes from two real estate internet sites for neighborhoods surrounding the BRT. The empirical methodology is innovative since it combines traditional spatial hedonic pricing with matching and weighted regressions, using propensity score estimates. Robustness checks are based on trimmed samples. BRT has a non significant impact on property prices, which can be attributed to the fact that this BRT lies on a traditional corridor and people that come downtown for work are those that use it most.
Permission to publish the abstract has been given by Elsevier, copyright remains with them.
D'Elia, V.V., Grand, M.C., & León, S. (2020). Bus rapid transit and property values in Buenos Aires: Combined spatial hedonic pricing and propensity score techniques. Research in Transportation Economics, Vol. 80, 100814.