Real Estate Tendencies in High-Rise Residential Buildings: Case Study in Belém, Amazonia, Brazil
Publication: Journal of Urban Planning and Development
Volume 147, Issue 4
Abstract
This study proposed to explore real estate trends in the high-rise housing market in Belém, Northern Brazil. We based the theoretical approach on the macroeconomic, territorial, and social elements of the high-rise segment both in national and international contexts. The sample comprised 137 high-rise projects launched throughout the 2005–2017 period. A quadratic regression model confirmed real estate susceptibility to macroeconomic oscillation. A geographically weighted regression model revealed that larger dwellings were launched more in upper-income, lower formal employment rate, and lower infrastructure coverage regions of Belém. A multinomial logit regression model established differences in the launching likelihood between different categories of housing size projects. The outcomes were compared with worldwide tendencies, seeking both common and unique patterns of real estate exploitation. The methodological forms of exploring real estate trends in developing countries—which are scarcer—add significant scientific value for the urban planning community, as they assist public policy by identifying the susceptibility of urban areas to land exploitation, in addition to enabling replication of such real estate diagnostics in other cities of emerging countries.
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Acknowledgments
The authors thank the coresearchers of Engineering Data Analysis Research Group (NUADE—Núcleo de Análise de dados de Engenharia) for assisting in data collection and research alignment, citing respectively Cassio Pereira and Marina Morhy Pereira. We also want to thank the Municipal Office of Urbanism for opening the records during the data collection phase.
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Published In
Journal of Urban Planning and Development
Volume 147 • Issue 4 • December 2021
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© 2021 American Society of Civil Engineers.
History
Received: May 26, 2020
Accepted: Apr 26, 2021
Published online: Jul 19, 2021
Published in print: Dec 1, 2021
Discussion open until: Dec 19, 2021
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