A Valorização Imobiliária em Belo Horizonte, 1995-2012: uma análise hedônica-quantílica

Authors

Abstract

This paper estimates quantile hedonic price indexes for apartments in Belo Horizonte, Brazil, 1995-2012. From an urban economic point of view, the real estate is one example of a segmented market and for this reason we choose the quantile regression approach. The several results suggest that before 2004, when there was a lack of institutional mark for the real estate mortgages and macroeconomics environment
was too uncertain, there a little appreciation in apartments prices. In this period there wasn’t a regular pattern in quantile appreciation. Since 2005, there was a great appreciation of apartments in all segments of the market, since the real estate mortgage increases due to the reformulation of the real estate mortgage
institutional market. Before 2009, the appreciation was more pronounced in the highest segments. Since 2009, there was a reversion of the quantile appreciation pattern. The appreciation in lowest segments was higher than in the highest. Partly, this change can be attributed to countercyclical policies implemented by
Brazilian Government which focus on families with medium and low incomes.


Keywords: real estate market, price indexes, hedonic prices, quantile regression.

Author Biographies

Luiz Andrés Ribeiro Paixão, Brazilian Institute of Geography and Statistics, Rio de Janeiro, RJ, Brazil.

Gradução em Economia na UFMG

Metre em Planejamento Urbano IPPUR/UFRJ

Doutorado em Economia/UFRJ

Analista do IBGE

Viviane Patrizzi Luporini, Federal University of Rio de Janeiro, Rio de Janeiro, RJ, Brazil.

Gradução em Economia na UNICAMP

Mestre m Economia na Queens College City University Of New York

Doutorado em Economia City University of New York

Professora do IE/UFRJ

 

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Published

2019-12-31

How to Cite

PAIXÃO, L. A. R.; LUPORINI, V. P. A Valorização Imobiliária em Belo Horizonte, 1995-2012: uma análise hedônica-quantílica. Nova Economia, [S. l.], v. 29, n. 3, p. 851–880, 2019. Disponível em: https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/3637. Acesso em: 23 dec. 2024.

Issue

Vol. 29 No. 3 (2019)

Section

Regular Issue

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