Price of land determined by the market supply and the municipal appraisal: Relations and spatial distribution in the city of Cuenca

Authors

  • Jaime Bojorque-Iñeguez Profesor de la Facultad de Ingeniería, Departamento de Ingeniería Civil, Universidad de Cuenca, Ecuador http://orcid.org/0000-0003-2847-9669
  • Cristina Chuquiguanga-Auquilla Profesora de la Facultad de Arquitectura y Urbanismo, Universidad de Cuenca, Av. 12 de Abril y Agustín Cuenca, Cuenca, Ecuador https://orcid.org/0000-0002-8742-6607
  • Cristina Peralta-Peñaloza Arquitecta, egresada de la Facultad de Arquitectura y Urbanismo, Universidad de Cuenca, Ecuador https://orcid.org/0000-0001-5179-5905
  • Paula Flores-Chafla Arquitecta, egresada de la Facultad de Arquitectura y Urbanismo, Universidad de Cuenca, Ecuador https://orcid.org/0000-0003-2743-0855

DOI:

https://doi.org/10.18537/mskn.11.02.06

Keywords:

Land price, market price, municipal appraisal, Cuenca

Abstract

The paper analyzes the relationship between the market price and the cadastral value of vacant lots, built-up lots, and horizontal property, and its spatial distribution within the urban area of the city of Cuenca, covering an area of approximately 74 km2. The cadastral value of the lots was obtained from the Autonomous Decentralized Municipal Government of the Canton Cuenca. Whereas, the market price was obtained from the published real estate offers in the period September 2019-March 2020. Of the 100,203 lots within the study area, 994 lots, of which the market price and cadastral value are available, were retained in the study. In total 421 unbuilt-plots, 518 built-plots, and 55 horizontal properties were used in the analysis. The land price by the municipal appraisal equals on average 54.15% of the market price, showing that the cadastral value of the properties is undervalued. The spatial autocorrelation between market price and the cadastral value was derived using Moran’s I and Gi* statistics. Lots were observed with a high market price, 5% of the properties presented values higher than 4.82 with a maximum of 11.39. These high values do not have a clear explanation, except speculation given by the market. Given the difference between both measures, municipalities, given society changes at a rapid pace, should modernize and renew the cadastral system, which traditionally is seen as well-functioning but in many cases is outdated.

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Author Biography

Jaime Bojorque-Iñeguez, Profesor de la Facultad de Ingeniería, Departamento de Ingeniería Civil, Universidad de Cuenca, Ecuador

Jaime Bojorque graduated in 1997 as Civil Engineer from Cuenca University; obtained in 2000 the MSc degree in Hydrogeology at the Eberhard Karls Universität, Tübingen, Germany; graduated in 2003 from the Diploma Program in the formulation and evaluation of project proposals; and acquired in 2009 the PhD degree in Engineering from the Catholic University Leuven, Belgium. Research interest is situated in the area of soil mechanics, hydrogeology, road pavement design, and slope stability. For the analysis, design and evaluation of projects intensive use is made of numerical modeling and finite element methods. Additionally, major emphasis is on the geo-mechanical characterization of soils and soil-rock material. Output in the format of scientific manuscripts is in the area of finite element analysis applied to slope failure and stability, and inverse modeling used for the quantification of geo-mechanical soil properties. Fluently in Spanish and English, with basic knowledge of German. Possessing expertise in specialty software used in finite element and finite boundary analysis, soil modeling, numerical analyses, slope stability including progressive failure, analytical methods in geotechnical design, and geo-environmental engineering, GIS, CAD and MATLAB.

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Published

2020-12-21

How to Cite

Bojorque-Iñeguez, J., Chuquiguanga-Auquilla, C., Peralta-Peñaloza, C., & Flores-Chafla, P. (2020). Price of land determined by the market supply and the municipal appraisal: Relations and spatial distribution in the city of Cuenca. Maskana, 11(2), 58–69. https://doi.org/10.18537/mskn.11.02.06

Issue

Vol. 11 No. 2 (2020)

Section

Research articles

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