The Impact of the Sense of Security from Crime on Residential Property Values in Brazilian Metropolitan Areas
Kaizô I. Beltrão,
Rosa M. R. Massena,
David M. Vetter
Abstract:Using a hedonic residential rent model for Brazil's metropolitan areas calibrated with microdata from Brazil's annual household survey, this study estimates that increasing the sense of security in the home by one standard deviation would increase average home values by R$1,513 (US$757), or about US$13. 6 billion if applied to all 18.0 million households in the study area. The principal components analysis of sense of security and crime victimization variables indicates that higher-income households feel more … Show more
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