Segmentación Inmobiliaria en una Ciudad Intermedia del Caribe Colombiano: El Caso de Sincelejo (Real Estate Sub-Markets in a Colombian Caribbean Intermediate City: The Case of Sincelejo)

Revista de Economía del Caribe, No. 16, 99-128, 2015

30 Pages Posted: 21 Nov 2016

See all articles by Gaston Dajud

Gaston Dajud

Universidad de Sucre - Facultad de Ingeniería Civil

Nestor Garza

California State University Dominguez Hills

Date Written: September 2015

Abstract

Spanish Abstract: A partir de información primaria (1800 avalúos inmobiliarios) y secundaria (trabajos de investigación, instituciones públicas, estadísticas oficiales), se compila información sobre precios del suelo y sus determinantes en la ciudad de Sincelejo en una base de datos tipo panel para 145 barrios en el periodo 2000-2011. Se encontró que variables extractadas de la teoría tradicional son buenas determinantes de los precios del suelo en la ciudad: PIB, Estrato, Distancia al centro, Distancia a corredor de actividad y Precio del espacio construido. Otras variables influyentes son la Presencia de invasiones y el origen Comunitario del barrio. Problemas de criminalidad no fueron significativos. El comportamiento de las comunas fue desigual. Mientras las comunas 4 y 5 tuvieron precios persistentemente superiores a lo predicho por las variables usadas, mientras que las comunas 2 y 3 los tuvieron inferiores.

English Abstract: We analyse the land price in 145 neighbourhoods of Sincelejo for the period comprised between 2000 and 2011. The research uses both primary (1,800 real estate appraisals) and secondary (research papers, public agencies, official statistics) information sources, in order to build a manageable database where land prices determinants have been analysed using Pooled Maximum Likelihood estimation. This estimator is used because the database is extremely unbalanced per cross-section units. We found that traditional theory variables are good predictors of land prices: GDP, Estrato, Distance to the Centre, Distance to Main Road, and Built Environment Price. It was also detected that Squatter Development and Community process in the neighbourhood origin are good predictors. The first of them always negative and the second one always positive. Criminality conditions were not significant. Communas’ behavious was uneven. While comunas 4 and 5 have prices that lie above what predicted by our models, while Comunas 2 and 3 are below.

Note: Downloadable document is available in Spanish.

Keywords: Sincelejo, Caribbean Region, Real Estate Economics, Colombia, Urban Economics

JEL Classification: R14, R30, R52

Suggested Citation

Dajud, Gaston and Garza, Nestor, Segmentación Inmobiliaria en una Ciudad Intermedia del Caribe Colombiano: El Caso de Sincelejo (Real Estate Sub-Markets in a Colombian Caribbean Intermediate City: The Case of Sincelejo) (September 2015). Revista de Economía del Caribe, No. 16, 99-128, 2015, Available at SSRN: https://ssrn.com/abstract=2870518

Gaston Dajud

Universidad de Sucre - Facultad de Ingeniería Civil ( email )

Sincelejo, Sucre
Colombia

Nestor Garza (Contact Author)

California State University Dominguez Hills ( email )

1000 E. Victoria Street
Carson, CA 90747
United States
90747 (Fax)

HOME PAGE: http://https://www.csudh.edu/cbapp/contact-us/faculty/nestorgarza

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