Maestría en Economía (tesis)

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The effects of burying a highway on housing prices : evidence from Parques del Rio in Medellin
(Universidad EAFIT, 2023) Alzate Hincapié, Juan Daniel; Acosta Mejía, Camilo Andrés
The nature and extent of the effects of highways on the quality of life of those living near them remains an open question in economics. Previous research has found both positive and negative effects associated with them, such as amenities, market access, property values, etc. This work will study the Parques del Rio project, a linear park in the city of Medellin, Colombia, which is located in its downtown; the park united the two shores of the Medellin river and buried a section of the two highways that ran alongside it, this work will focus particularly on the effect this project had over housing prices. We find that for the year 2016, when the first half of the project was completed, there was a significant positive effect on housing prices, which wore down over time.