Abstract

Value of urban land in Barranquilla metropolitan area. 2001-2011.
Track: Real Estate
Authors: Dann Payares

This paper determines the potential of increase in value of land per square meter (square meter lot) of neighborhoods of the city of Barranquilla (Colombia). Based on monthly data geographic information and spatially referenced-ArcGIS- for the period between 2001 and 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.