Real estate prices and land use regulations: Evidence from the Law of Heights in Bogotá

IF 3.5 2区经济学 Q1 ECONOMICS

Regional Science and Urban Economics Pub Date : 2023-07-01 DOI:10.1016/j.regsciurbeco.2023.103914

Diego Buitrago-Mora , Miquel-Àngel Garcia-López

引用次数: 1

Abstract

Between 2015 and 2017, the Law of Heights (Policy-562) regulated areas of urban renewal in specific locations of Bogotá (Colombia). Using a novel dataset based on detailed information at the block level between 2008 and 2017, we study whether this policy affected real estate prices. Our empirical strategy compares the price per square meter before and after Policy-562 in treated blocks and in control blocks with similar pre-treatment traits. Results show that prices increased more in treated blocks than in the rest of the city. We also provide evidence that results are heterogeneous from a temporal, land use and strata point of view.

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房地产价格和土地使用法规：波哥大高地法的证据

2015年至2017年间，《高地法》（政策-562）规定了波哥大（哥伦比亚）特定地区的城市更新区域。使用一个基于2008年至2017年间街区层面详细信息的新数据集，我们研究了这一政策是否影响了房地产价格。我们的经验策略比较了在政策-562之前和之后，具有类似预处理特征的处理区块和对照区块的每平方米价格。结果显示，经过处理的街区的价格上涨幅度大于城市其他地区。我们还提供了证据，证明从时间、土地利用和地层的角度来看，结果是异质的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Regional Science and Urban Economics Multiple-

CiteScore

5.30

自引率

9.70%

发文量

期刊介绍： Regional Science and Urban Economics facilitates and encourages high-quality scholarship on important issues in regional and urban economics. It publishes significant contributions that are theoretical or empirical, positive or normative. It solicits original papers with a spatial dimension that can be of interest to economists. Empirical papers studying causal mechanisms are expected to propose a convincing identification strategy.