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

Vor, Friso de; Groot, Henri de

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%T The impact of industrial sites on residential property values: a hedonic pricing analysis from the Netherlands
%A Vor, Friso de
%A Groot, Henri de
%J Regional Studies
%N 5
%P 609-623
%V 45
%D 2010
%K industrial sites; negative externalities; hedonic pricing
%= 2011-05-12T14:32:00Z
%~ http://www.peerproject.eu/
%> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-250556
%X 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.
%C GBR
%G en
%9 journal article
%W GESIS - http://www.gesis.org
%~ SSOAR - http://www.ssoar.info