Desigualdade urbana e interações espaciais nos preços de imóveis na cidade de Salvador

Abstract

The objective of this study was to verify the effect of proximity to business centers on the house prices in the city of Salvador. The urban spatial dynamics of Salvador evolved to the consolidation of a model of duocentric city. The theoretical literature suggests that distance of the residences to the business center is a factor that explains housing prices, since there is a tradeoff between housing costs and transportation costs. Furthermore, the hedonic pricing method that considers the pricing of complex goods can be made by estimating the value attributed to the characteristics of those goods. Thus, it will be specified and estimated a spatial econometric model of hedonic prices that consider the characteristics of the property, the socioeconomic features of the neighborhood, urban amenities and distance to the business center of the city of Salvador. A microdata base of new houses sold in the city of Salvador in the period 2003-2008 was built. During this period, sales concentrated in properties located in neighborhoods with higher income and predominantly near the seafront of the city. The results showed that there are effects of spatial interaction between the prices of neighboring properties in the city. Moreover, proximity to centers had valuation effect on the prices in the period, which was greater with the proximity to the old city center.