The Impact of Aircraft Noise on Housing Prices in Poznan

Radoslaw Trojanek, Justyna Tanas, Saulius Raslanas and Audrius Banaitis
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Radoslaw Trojanek: Department of Microeconomics, Poznan University of Economics and Business, Al. Niepodleglosci 10, 61-875 Poznan, Poland
Justyna Tanas: Department of Organization and Management Theory, Poznan University of Economics and Business, Al. Niepodleglosci 10, 61-875 Poznan, Poland
Saulius Raslanas: Department of Construction Management and Real Estate, Vilnius Gediminas Technical University, Sauletekio al. 11, LT-10223 Vilnius, Lithuania
Audrius Banaitis: Department of Construction Management and Real Estate, Vilnius Gediminas Technical University, Sauletekio al. 11, LT-10223 Vilnius, Lithuania

Sustainability, 2017, vol. 9, issue 11, 1-16

Abstract: In the paper, we analyzed the impact of aircraft noise on housing prices. We used a dataset containing geo-coded transactions for 1328 apartments and 438 single-family houses in the years 2010 to 2015 in Poznan. In this research, the hedonic method was used in OLS (ordinary least squares), WLS (weighted least squares), SAR (spatial autoregressive model) and SEM (spatial error model) models. We found strong evidence that aircraft noise is negatively linked with housing prices, which is in line with previous studies in other parts of the world. In our research, we managed to distinguish the influence of aircraft noise on different types of housing. The noise depreciation index value we found in our study was 0.87% in the case of single-family houses, and 0.57% regarding apartments. One of the reasons for the difference in the level of impact of aircraft noise may be the fact that the buyers of apartments may be less sensitive to aircraft noise than the buyers of single-family houses.

Keywords: impact of aircraft noise; housing prices; hedonic methods; airport (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:9:y:2017:i:11:p:2088-:d:118611

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