Accessibility, local pollution and housing prices. Evidence from Nantes Métropole, France

Dorothée Brécard, Rémy Le Boennec and Frédéric Salladarré ()
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Frédéric Salladarré: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes

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Abstract: In this empirical article, we analyze the extent to which accessibility and environmental variables are capitalized in apartment prices in Nantes Métropole, France. Using a sample of 5,590 transactions in 2002, 2006, 2008 from the Perval database, we estimate a spatial hedonic price model that takes into account spatial autocorrelation and spatial heterogeneity. Special attention is also paid to the construction of environmental quality variables (noise exposure , air pollution). We find that apartment prices depend positively on proximity to Nantes city centre but that the public transport network (urban or non-urban) has no significant influence. Noise reduction is valued, but only at low or marginal levels of significance. Last, air quality does not significantly influence apartment prices. These results can be related to good accessibility and environmental quality in Nantes Métropole which probably makes households less sensitive to these issues than in other geographical contexts. This seems to provide little support for sustainable urban mobility plans favoring better accessibility, unless public authorities also target the greater awareness of the use of virtuous modes of transport.

Keywords: accessibility; air quality; hedonic price model; spatial econometrics; noise exposure (search for similar items in EconPapers)
Date: 2018-10-29
New Economics Papers: this item is included in nep-env, nep-geo, nep-tre and nep-ure
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01916489v2
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Citations: View citations in EconPapers (6)

Published in Economie et Statistique / Economics and Statistics, 2018, 500, pp.97-115. ⟨10.24187/ecostat.2018.500t.1947⟩

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Journal Article: Accessibility, local pollution and housing prices. Evidence from Nantes Métropole, France (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01916489

DOI: 10.24187/ecostat.2018.500t.1947

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