کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1017840 940318 2014 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Expropriation risk and housing prices: Evidence from an emerging market
ترجمه فارسی عنوان
خطر تخریب و قیمت مسکن: شواهد از یک بازار در حال ظهور
کلمات کلیدی
قیمت املاک و مستغلات، مدل قیمت گذاری هیدونگ، سلب مالکیت ونزوئلا
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی

This paper examines the microeconomic determinants of residential real estate prices in Caracas, Venezuela, using a private database containing 17,526 transactions from 2008 to 2009. The particular institutional characteristics of many countries in Latin America, and Venezuela in particular, where land invasions and expropriations (with only partial compensation) have been common threats to property owners, provide us with an opportunity to test the effects of these risks on housing prices using a unique database. The effect of these risks on property prices is negative and significant. To our knowledge, this is the first attempt to quantify these impacts in the Hedonic pricing literature applied to real estate. Size, the number of parking spaces, the age of the property, the incidence of crime, and the average income in the neighborhood are significant determinants of prices. Finally, this paper analyzes the microeconomic determinants of housing prices at the municipal level.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Business Research - Volume 67, Issue 5, May 2014, Pages 935–942
نویسندگان
, , , ,