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The impact of industrial sites on residential property values: a hedonic pricing analysis from the Netherlands

[Zeitschriftenartikel]

Vor, Friso de; Groot, Henri de

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-250556

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Abstract Industrial sites cause several negative externalities, such as traffic noise disturbance, congestion, and obstruction of view. In order to quantify the negative effects generated by industrial sites, we estimate – using a hedonic pricing model – the impact of distance to industrial sites on residential property values. We use data on houses sold in the Randstad region and in the Province of North-Brabant (both located in the Netherlands) in the year 2005, together with data on the characteristics of a substantial number of industrial sites in the same regions and period. The results reveal that the distance to an industrial site has a statistically significant negative effect on the value of residential properties. However, the effect is largely localized within a relatively short distance from the nearest industrial site. Furthermore, we obtain statistical evidence for substantial localized price differentials, which vary according to the size of an industrial site.
Klassifikation Volkswirtschaftslehre; Raumplanung und Regionalforschung
Freie Schlagwörter industrial sites; negative externalities; hedonic pricing
Sprache Dokument Englisch
Publikationsjahr 2010
Seitenangabe S. 609-623
Zeitschriftentitel Regional Studies, 45 (2010) 5
DOI http://dx.doi.org/10.1080/00343401003601925
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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