2024 Update of the Housing Price Determinants Study

Approximately 10 months after the start of operations of the First Line of the Quito Metro, this study updates the “Analysis of Housing Price Determinants in the Areas of Influence of Quito Metro Stations” in order to evaluate a new scenario—this time with the metro system fully operational.

To achieve this, and following the methodological framework established in the study conducted by CIUQ in 2021, Machine Learning techniques were used to estimate market housing prices, and a hedonic pricing model was developed to identify the factors influencing those prices. Four spatial cross-sectional hedonic pricing models were defined: one general model explaining the behavior of all 15 stations collectively, and three specific models corresponding to different station typologies.

Based on the results obtained from the station-specific econometric models, recommendations for public policy and urban regulations were developed for the factors found to be statistically significant. These recommendations contribute to the PMDOT, PUGS, and Housing Public Policy frameworks.

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