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

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Vor, Friso de; Groot, Henri de

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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.
Classification Political Economy; Area Development Planning, Regional Research
Free Keywords industrial sites; negative externalities; hedonic pricing
Document language English
Publication Year 2010
Page/Pages p. 609-623
Journal Regional Studies, 45 (2010) 5
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)