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Impactos da criminalidade no valor dos aluguéis em Belo Horizonte [Criminality: the impact on the residential rent prices in Belo Horizonte]

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  • Vinícius Velasco Rondon

    ()

  • Mônica Viegas Andrade

    ()

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    Abstract

    The aim of this paper is to measure part of the indirect costs of criminality in Belo Horizonte. The indirect costs are measured through the analysis of the impact of criminality in residential rent prices. The methodology used is Hedonic Price Models. This methodology allows us to obtain indirectly the price that individuals are able to pay to have access to some goods which markets do not exist. In this work we are interested in estimating the value that individuals pay to live in areas with a higher level of security. In this way we have a proxy to the amount that individuals are able to pay to reduce criminality. The estimation was done using Ordinary Least Squares. We estimated two models to account to different types of crimes: property crimes and murder. The results obtained show that criminality reduce rent prices. Depending on the geographic area, this reduction reaches 27% of full rental price.

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    Bibliographic Info

    Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td194.

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    Length: 29 pages
    Date of creation: May 2003
    Date of revision:
    Handle: RePEc:cdp:texdis:td194

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    Keywords: violence costs; hedonic prices; criminality;

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