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Impact of Transmilenio on density, land use, and land value in Bogotá

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  • Bocarejo, Juan Pablo
  • Portilla, Ingrid
  • Pérez, Maria Angélica
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    Abstract

    While urban sprawl has been the general growth pattern in most developing cities worldwide, the city of Bogotá has undergone a process of densification in specific areas in the past decade. Using a differences-in-differences methodology, we have shown that the bus rapid transit (BRT) network, Transmilenio, built in this period is one of the variables that account for this higher density. Areas served by Transmilenio, especially those in the periphery that have been provided with feeder bus routes, have a higher growth than zones without access to this system. Using a similar methodology for assessing the growth of newly built areas, we have not found a clear relation between the BRT and recent evolution of residential, commercial, or work areas. However, recent scientific literature confirms an impact of the BRT on land value.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0739885912001023
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    Bibliographic Info

    Article provided by Elsevier in its journal Research in Transportation Economics.

    Volume (Year): 40 (2013)
    Issue (Month): 1 ()
    Pages: 78-86

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    Handle: RePEc:eee:retrec:v:40:y:2013:i:1:p:78-86

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    Related research

    Keywords: Land use/transport planning; Urban development; Land value;

    References

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    1. Cervero, Robert, 2005. "Progressive Transport and the Poor: Bogota's Bold Steps Forward," University of California Transportation Center, Working Papers qt3mj7r62w, University of California Transportation Center.
    2. Juan Carlos Mendieta & Jorge Andrés Perdomo, 2007. "Especificación y estimación de un modelo de precios hedónico espacial para evaluar el impacto de Transmilenio sobre el valor de la propiedad en Bogotá," DOCUMENTOS CEDE 004280, UNIVERSIDAD DE LOS ANDES-CEDE.
    3. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    4. Munoz-Raskin, Ramon, 2010. "Walking accessibility to bus rapid transit: Does it affect property values? The case of Bogotá, Colombia," Transport Policy, Elsevier, vol. 17(2), pages 72-84, March.
    5. Cervero, Robert & Kang, Chang Deok, 2009. "Bus Rapid Transit Impacts on Land Uses and Land Values in Seoul, Korea," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt4px4n55x, Institute of Transportation Studies, UC Berkeley.
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    Cited by:
    1. Isabel K. Parés-Ramos & Nora L. Álvarez-Berríos & T. Mitchell Aide, 2013. "Mapping Urbanization Dynamics in Major Cities of Colombia, Ecuador, Perú, and Bolivia Using Night-Time Satellite Imagery," Land, MDPI, Open Access Journal, vol. 2(1), pages 37-59, February.

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