Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/310402 
Year of Publication: 
2024
Series/Report no.: 
Working Papers No. 2024-18
Publisher: 
Banco de México, Ciudad de México
Abstract: 
We estimate the slope of the housing price gradient - the relationship between prices and distance to the center or employment density - in Mexico City, using administrative and survey data on housing prices in from 2019 to 2022. Our estimates rule out statistically significant changes in the slope of the housing price gradient after 2020 Q1 with respect to the pre-pandemic period. The Mexico City case contrasts with developed-country cities, where the housing price gradient flattened during the COVID-19 pandemic, with housing price increases in the suburbs relative to central areas. Possible mechanisms behind the lack of gradient change in Mexico city could include differences in pandemic restrictions relative to other countries, a reduced potential for remote work, lack of access to finance housing purchases, and housing supply shocks.
Subjects: 
Housing prices
Housing price gradients
COVID-19
JEL: 
R23
R51
R12
Document Type: 
Working Paper
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