REGULAR PAPER
Determination of buffer zone for negative externalities: Effect on housing prices
Jorge Chica-Olmo,
Rafael Cano-Guervos,
Ivan Tamaris-Turizo,
Corresponding Author
Jorge Chica-Olmo
Department of Quantitative Methods for Economics and Business, University of Granada, Granada, Spain
Correspondence
Jorge Chica-Olmo
Email: [email protected]
Search for more papers by this authorRafael Cano-Guervos
Department of Quantitative Methods for Economics and Business, University of Granada, Granada, Spain
Search for more papers by this authorIvan Tamaris-Turizo
Budget Management Service, University of Magdalena, Magdalena, Colombia
Search for more papers by this authorJorge Chica-Olmo,
Rafael Cano-Guervos,
Ivan Tamaris-Turizo,
Corresponding Author
Jorge Chica-Olmo
Department of Quantitative Methods for Economics and Business, University of Granada, Granada, Spain
Correspondence
Jorge Chica-Olmo
Email: [email protected]
Search for more papers by this authorRafael Cano-Guervos
Department of Quantitative Methods for Economics and Business, University of Granada, Granada, Spain
Search for more papers by this authorIvan Tamaris-Turizo
Budget Management Service, University of Magdalena, Magdalena, Colombia
Search for more papers by this authorAbstract
Numerous works have addressed the problem of the hedonic modelling of housing prices, in which structural and locational variables of dwellings are considered. Among the latter, it is common to include variables related to transport accessibility. However, few studies have considered the effects of proximity to railway lines, and even less so freight railroads. This study determines the size of the width of influence (buffer zone) of negative externalities associated with the freight train line in the city of Santa Marta, Colombia. Moreover, the effect of this width on housing prices is studied. A hedonic model was estimated using spatial econometrics and geostatistical methods. Geostatistical techniques were used to obtain an isovalues map for the price of a standard dwelling. The study is of interest to the fields of real estate, territorial planning and transport systems, among others.
Abstract
The effects of proximity to railway on housing prices in Santa Marta were studied. A buffer zone of negative externalities by the freight railroad was obtained. A hedonic spatial econometric model and geostatistical methods were used. An isovalues map for the price of a standard dwelling was obtained.
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