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Índice de Precios de la Vivienda Nueva para Bogotá: Metodología de Precios Hedónicos

Author

Listed:
  • Jessica Castaño

    ()

  • Mariana Laverde

    ()

  • Miguel Ángel Morales Mosquera

    ()

  • Ana María Yaruro

Abstract

En este documento se presenta un índice de precios de vivienda nueva ajustado por cambios en la calidad de los inmuebles para la ciudad de Bogotá. Para ello se utilizó la base de datos de La Galería Inmobiliaria para el período 2003-2013. El indicador se construyó utilizando el modelo teórico de precios hedónicos propuesto por Rosen (1974) y la aplicación econométrica sugerida por Bover & Velilla (2002) y Gatzlaff & Ling (1994). Al comparar el índice de precios obtenido con los existentes en Colombia, se encontró que el comportamiento entre estos es similar. Finalmente, cuando se controla por calidad, el índice presenta crecimientos inferiores a los registrados por índices que no incluyen este aspecto, reflejando que los cambios en calidad tienen un efecto positivo en los precios.

Suggested Citation

  • Jessica Castaño & Mariana Laverde & Miguel Ángel Morales Mosquera & Ana María Yaruro, 2013. "Índice de Precios de la Vivienda Nueva para Bogotá: Metodología de Precios Hedónicos," Temas de Estabilidad Financiera 078, Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:temest:078
    as

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    References listed on IDEAS

    as
    1. Fernando Carriazo & Richard Ready & James Shortle, 2011. "Using Frontier Models to Mitigate Omitted Variable Bias in Hedonic Pricing Models: A Case Study for Air Quality in Bogotá, Colombia," DOCUMENTOS CEDE 008736, UNIVERSIDAD DE LOS ANDES-CEDE.
    2. María Angélica Arbeláez & Roberto Steiner & Alejandro Becerra & Daniel Wills, 2011. "Housing tenure and housing demand in Colombia," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 009067, FEDESARROLLO.
    3. Idrovo Aguirre, Byron & Lennon S., Joaquín, 2011. "Indice de Precios de Viviendas Nuevas para el Gran Santiago
      [Hedonic pricing models to calculate price indexes for new houses in the Santiago province]
      ," MPRA Paper 31400, University Library of Munich, Germany, revised 28 Jan 2011.
    4. Crone, Theodore M. & Voith, Richard P., 1992. "Estimating house price appreciation: A comparison of methods," Journal of Housing Economics, Elsevier, vol. 2(4), pages 324-338, December.
    5. 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..
    6. Eurostat, 2013. "Handbook on Residential Property Prices Indices," World Bank Publications, The World Bank, number 17280, August.
    7. Robert Hill, 2011. "Hedonic Price Indexes for Housing," OECD Statistics Working Papers 2011/1, OECD Publishing.
    8. Olympia Bover & Pilar Velilla, 2001. "Hedonic house prices without characteristics: the case of new multiunit housing," Estudios Económicos, Banco de España;Estudios Económicos Homepage, number 73, June.
    9. J. R. Knight & Jonathan Dombrow & C. F. Sirmans, 1995. "A Varying Parameters Approach to Constructing House Price Indexes," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 23(2), pages 187-205.
    10. Leonardo Morales Zurita & Fabio Alberto Arias Arbeláez, 2008. "La calidad de la vivienda en Bogotá: Enfoque de precios hedónicos de hogares y de agregados espaciales," REVISTA SOCIEDAD Y ECONOMIA - CIDSE, UNIVERSIDAD DEL VALLE - CIDSE, June.
    11. Boris Hofmann, 2001. "The determinants of private sector credit in industrialised countries: do property prices matter?," BIS Working Papers 108, Bank for International Settlements.
    12. Cameron,A. Colin & Trivedi,Pravin K., 2008. "Microeconometrics," Cambridge Books, Cambridge University Press, number 9787111235767.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Índice de Precios de la Vivienda; Precios Hedónicos; Efectos Fijos; Mercado de la Vivienda en Colombia. Classification JEL: C21; C43; E31; R32;

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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