Housing Price Determinants

2022 Study

Analysis of the Factors Influencing Housing Prices in the Areas of Influence of the Quito Metro

This study examines the factors that influence housing prices within the walkable catchment areas of the 15 stations of the Quito Metro, using geospatial analysis and a hedonic pricing model.

The study was conducted in 2021, after the Quito Metro system had been constructed but before it became operational.

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Geospatial Analysis

Phase 1

This component examines urban planning, socioeconomic, and land-use regulatory factors in Quito through geospatial analysis techniques, enabling the identification of the variables that may influence the market price of a residential property.

Development of a Commercial Property Price Prediction Model: Phase 2

For this component, a Machine Learning methodology was employed to predict housing prices based on a set of variables related to the characteristics of each property. The model was developed using data from 1,410 residential properties, whose market prices were collected through web scraping techniques from websites where properties are listed for sale.

Hedonic Pricing Model:

Phase 3

Based on the Box-Cox model, a hedonic pricing model was developed to identify the factors influencing housing prices around each of the 15 stations of the Quito Metro.