How negative attributes of Noise affect the sales in the Tel Aviv market today

Deborah Leshinsky and Robert Simons

ERES from European Real Estate Society (ERES)

Abstract: Tel Aviv boasts a diverse population. The beaches are clean and full of white sand. Its UNESCO designated Bauhaus architecture has won the city the title: “The White City.” This article concentrates on the relationship between noise and the vibrant city of Tel Aviv. This study quantifies the effect of noise on the sale prices of Tel Aviv. This paper demonstrates the negative attributes of noise on the sales value of property values. Negative attributes include but not limited to: School and kindergarten noise, dust and pollution, Active construction, places of worship such as Mosques and location to hospitals and supermarkets. A technique to add originality to this paper is by implementing innovative modelling and estimation techniques. For example a major criticism on hedonic modelling refers to lack of empirical arguments which would account for key demand and local economic drivers. The database will include 100,000 hedonic values. Theoretically speaking this paper attempts to explore the different noise levels on the sales market of Tel Aviv.

Keywords: Hedonic Values; Negative attributes; Noise levels; Property Valuation (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2024-260

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