Impact of spatial fragmentation on value of residential housing using the hedonic price methodology, case of study: Mosquera, Cundinamarca

This study develops the methodology to determine the economic impact of spatial fragmentation on the commercial value of property with residential use, it is using the hedonic price method based on attributes that are considered most relevant for the model, it is considering that this is an heterogeneous property that is in function on their physical characteristics and their environment. The methodology is applied to analyze the real states values in the municipality of Mosquera, Cundinamarca. The results of spatial econometric estimates suggest that fragmentation besides being significant, at low levels it impacts negatively the residential house prices and at high levels it increases the price.