IDEAS home Printed from https://ideas.repec.org/a/kap/atlecj/v37y2009i2p159-172.html
   My bibliography  Save this article

Housing Attribute Preferences in a Northern Mexico Metropolitan Economy

Author

Listed:
  • Karen Fierro
  • Thomas Fullerton
  • K. Donjuan-Callejo

Abstract

Studies of the valuation of housing attributes have been conducted for numerous metropolitan markets. Empirical analyses of this nature for cities in Latin America and Mexico are less common. This study utilizes data for 175 new houses in Ciudad Juarez, a major metropolitan economy in northern Mexico, to estimate a hedonic pricing model. All units in the sample were completed and sold between November 2006 and April 2007. For each house, a total of 14 characteristics relating to structure and location are employed as explanatory variables. Estimation results indicate that the structural characteristics play bigger roles than the neighborhood amenities. Surprisingly, neighborhood parks are found to lower housing values. Copyright International Atlantic Economic Society 2009

Suggested Citation

  • Karen Fierro & Thomas Fullerton & K. Donjuan-Callejo, 2009. "Housing Attribute Preferences in a Northern Mexico Metropolitan Economy," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 37(2), pages 159-172, June.
    • Handle: RePEc:kap:atlecj:v:37:y:2009:i:2:p:159-172
    DOI: 10.1007/s11293-009-9174-x
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11293-009-9174-x
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11293-009-9174-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Case, Karl E. & Mayer, Christopher J., 1996. "Housing price dynamics within a metropolitan area," Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 387-407, June.
    2. Man Cho, 1997. "Congestion Effects of Spatial Growth Restrictions: A Model and Empirical Analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 25(3), pages 409-438, September.
    3. Carolyn A. Dehring & Craig A. Depken & Michael R. Ward, 2007. "The Impact Of Stadium Announcements On Residential Property Values: Evidence From A Natural Experiment In Dallas‐Fort Worth," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 627-638, October.
    4. Robert E. Lang & Arthur C. Nelson, 2007. "Boomburb politics and the rise of private government," Housing Policy Debate, Taylor & Francis Journals, vol. 18(3), pages 627-634, January.
    5. Katrin B. Anacker & Hazel A. Morrow‐Jones, 2008. "Mature suburbs, property values, and decline in the midwest? The case of Cuyahoga county," Housing Policy Debate, Taylor & Francis Journals, vol. 19(3), pages 519-552, January.
    6. Edward C. Skelton, 2006. "Laying the foundation for a mortgage industry in Mexico," Economic Letter, Federal Reserve Bank of Dallas, vol. 1(oct.).
    7. 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..
    8. Can, Ayse, 1992. "Specification and estimation of hedonic housing price models," Regional Science and Urban Economics, Elsevier, vol. 22(3), pages 453-474, September.
    9. repec:bla:econom:v:62:y:1995:i:246:p:247-67 is not listed on IDEAS
    10. Blomquist, Glenn & Worley, Lawrence, 1981. "Hedonic prices, demands for urban housing amenities, and benefit estimates," Journal of Urban Economics, Elsevier, vol. 9(2), pages 212-221, March.
    11. Thomas Fullerton & Roberto Tinajero & Martha Barraza de Anda, 2006. "Short-Term Water Consumption Patterns in Ciudad Juárez, Mexico," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 467-479, December.
    12. Kenneth Y. Chay & Michael Greenstone, 2005. "Does Air Quality Matter? Evidence from the Housing Market," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 376-424, April.
    13. Jordan Rappaport, 2007. "A guide to aggregate house price measures," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q II), pages 41-71.
    14. Ben C. Arimah, 1992. "An Empirical Analysis of the Demand for Housing Attributes in a Third World City," Land Economics, University of Wisconsin Press, vol. 68(4), pages 366-379.
    15. Gin, Alan & Sonstelie, Jon, 1992. "The streetcar and residential location in nineteenth century Philadelphia," Journal of Urban Economics, Elsevier, vol. 32(1), pages 92-107, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Thomas M. Fullerton & Arturo Bujanda, 2018. "Commercial property values in a border metropolitan economy," Asia-Pacific Journal of Regional Science, Springer, vol. 2(2), pages 337-360, August.
    2. Oronzo Trio & Antonio Iazzi, 2017. "Consumers? preferences in the estate market: An explorative research on the residential product," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2017(3), pages 147-167.
    3. Arturo Bujanda & Thomas M. Fullerton, 2017. "Impacts of transportation infrastructure on single-family property values," Applied Economics, Taylor & Francis Journals, vol. 49(51), pages 5183-5199, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Linda T. M. Bui & Christopher J. Mayer, 2003. "Regulation and Capitalization of Environmental Amenities: Evidence from the Toxic Release Inventory in Massachusetts," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 693-708, August.
    2. van Vuuren, Aico & Kjellander, Josef & Nilsson, Viktor, 2019. "Refugees and apartment prices: A case study to investigate the attitudes of home buyers," Regional Science and Urban Economics, Elsevier, vol. 77(C), pages 20-37.
    3. Delores Conway & Christina Li & Jennifer Wolch & Christopher Kahle & Michael Jerrett, 2010. "A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 150-169, August.
    4. Kenneth A. Small & Seiji S.C. Steimetz, 2012. "Spatial Hedonics And The Willingness To Pay For Residential Amenities," Journal of Regional Science, Wiley Blackwell, vol. 52(4), pages 635-647, October.
    5. Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists;North American Association of Sports Economists.
    6. Hyun, Dongwoo & Milcheva, Stanimira, 2019. "Spatio-temporal effects of an urban development announcement and its cancellation on house prices: A quasi-natural experiment," Journal of Housing Economics, Elsevier, vol. 43(C), pages 23-36.
    7. Saudamini Das & Arup Mitra & Rajnish Kumar, 2017. "Do neighbourhood facilities matter for slum housing? Evidence from Indian slum clusters," Urban Studies, Urban Studies Journal Limited, vol. 54(8), pages 1887-1904, June.
    8. Randall Crane & Amrita Daniere & Stacy Harwood, 1997. "The Contribution of Environmental Amenities to Low-income Housing: A Comparative Study of Bangkok and Jakarta," Urban Studies, Urban Studies Journal Limited, vol. 34(9), pages 1495-1512, August.
    9. Diana Mok & Ling‐Hin Li, 2010. "The Spatial Impact of Language Policies on the Marginal Bids for English Education in Hong Kong," Growth and Change, Wiley Blackwell, vol. 41(4), pages 556-587, December.
    10. Waltert, Fabian & Schläpfer, Felix, 2010. "Landscape amenities and local development: A review of migration, regional economic and hedonic pricing studies," Ecological Economics, Elsevier, vol. 70(2), pages 141-152, December.
    11. Redfearn, Christian L., 2009. "How informative are average effects? Hedonic regression and amenity capitalization in complex urban housing markets," Regional Science and Urban Economics, Elsevier, vol. 39(3), pages 297-306, May.
    12. Xia Feng & Brad Humphreys, 2018. "Assessing the Economic Impact of Sports Facilities on Residential Property Values," Journal of Sports Economics, , vol. 19(2), pages 188-210, February.
    13. Lucija Muehlenbachs & Elisheba Spiller & Christopher Timmins, 2015. "The Housing Market Impacts of Shale Gas Development," American Economic Review, American Economic Association, vol. 105(12), pages 3633-3659, December.
    14. Nishitateno, Shuhei & Burke, Paul J., 2021. "Willingness to pay for clean air: Evidence from diesel vehicle registration restrictions in Japan," Regional Science and Urban Economics, Elsevier, vol. 88(C).
    15. von Graevenitz, Kathrine, 2018. "The amenity cost of road noise," Journal of Environmental Economics and Management, Elsevier, vol. 90(C), pages 1-22.
    16. Waights, Sevrin, 2018. "Does the law of one price hold for hedonic prices?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 55(15), pages 3299-3317.
    17. Helen Tauchen & Ann Dryden Witte, 2001. "Estimating Hedonic Models: Implications of the Theory," NBER Technical Working Papers 0271, National Bureau of Economic Research, Inc.
    18. Sunak, Yasin & Madlener, Reinhard, 2012. "The Impact of Wind Farms on Property Values: A Geographically Weighted Hedonic Pricing Model," FCN Working Papers 3/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Mar 2013.
    19. Nicolai V. Kuminoff & Jaren C. Pope, 2014. "Do “Capitalization Effects” For Public Goods Reveal The Public'S Willingness To Pay?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(4), pages 1227-1250, November.
    20. Gabriel Ahlfeldt & Pantelis Koutroumpis & Tommaso Valletti, 2017. "Speed 2.0: Evaluating Access to Universal Digital Highways," Journal of the European Economic Association, European Economic Association, vol. 15(3), pages 586-625.

    More about this item

    Keywords

    Housing demand; Applied econometrics; Mexico; R21; Housing demand;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:atlecj:v:37:y:2009:i:2:p:159-172. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.