IER News & blogs
Announcement of the first metro line and its impact on housing prices in Bogot谩
This, co-authored by IER鈥檚 Dr Jeisson Cardenas-Rubio, analyses the impact of the First Metro Line's announcement on housing prices in Bogot谩, Colombia.
It combines innovative databases, web scraping and Google Maps with administrative records—such as the Bogot谩 Urban Development Institute (IDU, by its acronym in Spanish) databases—to assess how the announcement of the metro construction impacts on the rental or sales market prices for the houses surrounding the infrastructure projects.
The results show that the housing sale prices have increased since October 2019, the time when the awarding of the contract for the construction of the First Metro Line was announced. The flats and houses on sale located within 1.5 km from the future metro stations showed an increase of 10.5% and 6.5% in prices, respectively.