Noise Expectation and House Prices

Andreas Mense and Konstantin Kholodilin ()

No 1244, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

Abstract: In this paper, we examine the effects of an airport expansion on the prices of houses and flats located under the planned flight corridors. We focus on the role of expectations about the exposure to noise and find that proximity to the planned corridors significantly reduces real estate prices in the affected areas, by around 41% to 60%, depending on the sample. Hereby, the various plans of expanding Berlin-Brandenburg Inter- national airport are used as a source of exogenous variation.

Keywords: Airport noise; housing prices; price expectations; quasi-experiment; spatial effects (search for similar items in EconPapers)
JEL-codes: C21 L93 R31 (search for similar items in EconPapers)
Pages: 13 p.
Date: 2012
New Economics Papers: this item is included in nep-tre and nep-ure
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwwpp:dp1244

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