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Sustainability 2017, 9(11), 2088; doi:10.3390/su9112088

The Impact of Aircraft Noise on Housing Prices in Poznan

1
Department of Microeconomics, Poznan University of Economics and Business, Al. Niepodleglosci 10, 61-875 Poznan, Poland
2
Department of Organization and Management Theory, Poznan University of Economics and Business, Al. Niepodleglosci 10, 61-875 Poznan, Poland
3
Department of Construction Management and Real Estate, Vilnius Gediminas Technical University, Sauletekio al. 11, LT-10223 Vilnius, Lithuania
*
Author to whom correspondence should be addressed.
Received: 27 October 2017 / Revised: 7 November 2017 / Accepted: 10 November 2017 / Published: 13 November 2017
(This article belongs to the Special Issue Sustainability in Construction Engineering)
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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. View Full-Text
Keywords: impact of aircraft noise; housing prices; hedonic methods; airport impact of aircraft noise; housing prices; hedonic methods; airport
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Trojanek, R.; Tanas, J.; Raslanas, S.; Banaitis, A. The Impact of Aircraft Noise on Housing Prices in Poznan. Sustainability 2017, 9, 2088.

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