An empirical study of the impact of vehicular traffic and floor level on property price

Wen, Haizhen; Gui, Zaiyuan; Zhang, Ling; Hui, Eddie C.M.

doi:10.1016/j.habitatint.2020.102132

Cited by 22 publications

(11 citation statements)

References 78 publications

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“…Some years later, Duarte and Tamez [42] demonstrated that the environmental noise has become a major issue in densely urbanized areas, defining a NDSI equal to 0.08% by differentiating according to city areas and to the nature of the noise source. The outputs obtained by Wen et al [43] and based on data of 7590 multi-story and 4980 high-rise residential properties in the city of Hangzhou (China) in 2017 attested that the urban road traffic generates noise and air pollution, thereby resulting in a disamenity effect on surrounding residential property and subsequently affecting the willingness to pay from homebuyers. The results confirmed a significant moderating effect of floor level on the impact of road traffic.…”

Section: Reference Literaturementioning

confidence: 99%

Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy)

et al. 2021

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Among environmental factors, noise represents one of the most relevant determinants on human health and on the urban quality level and, consequently, on real estate values. Thus, the noise pollution issue plays a significant role in public urban policies aimed at increasing the acoustic comfort level and creating more sustainable and comfortable cities. The real estate market is highly sensitive to noise factor and the residential prices can be strongly influenced by a high acoustic pollution rate. The present research aims to analyze the functional relationships between noise pollution and selling prices in four municipal areas of the city of Bari (Southern Italy). For each area, a study sample constituted by two hundred residential properties sold in 2017–2019 was detected for the identification of the main influential factors on prices and the investigation of the contribution of noise on them. The implementation of an econometric technique was used to obtain four different models (one for each municipal area of the city of Bari) able to explain the specific impact of noise pollution level on selling prices. From the comparison of the results obtained for each area, the outputs confirm the expected phenomena in terms of a decrease of noise component influence on residential prices from the central area to the peripheral. For the suburban area of the city of Bari, the model obtained does not include the noise pollution factor, showing a lower (scarce) importance of the environmental factor among the buyer and seller bargaining phases.

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Section: Reference Literaturementioning

confidence: 99%

Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy)

et al. 2021

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“…Another energy related variable is the building solar potential. Helbich et Jochem [28] proved the positive impact of solar radiation on residential property value as long as better solar potential reduces the energy consumption. They also stated that properties with high roof solar potential dispose of high property value.…”

Section: Related Workmentioning

confidence: 99%

“…It is explained by their better exposition to natural sunlight. Helbich et al, [28] used specific sunlight computation to eliminate the impact of the surrounding obstacles such as shadowing and building elevation on sunlight occlusion. Table A1 (in the Appendix A) summarizes all the sunlight definitions significant to 3D property valuation based on literature review analysis.…”

Section: Related Workmentioning

confidence: 99%

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3D Variables Requirements for Property Valuation Modeling Based on the Integration of BIM and CIM

et al. 2021

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The growing rate of urbanization and vertical urban development has aroused the significance of geo-related variables for property units disposed vertically within the same building. Among these, 3D indoor physical and outdoor environmental variables are impacting the property value for each building unit. However, in the literature, the identified 3D variables, by using hedonic pricing models (HPM) for property valuation, are mainly restricted to 3D visualization. Their use in 3D simulation for an accurate evaluation of the property value is still limited. Furthermore, their value is often defined for a specific valuation purpose (e.g., taxation). This paper aims to investigate 3D variables with a significant impact on property value, to combine them with 3D technical requirements and to be integrated in a future valuation model. Moreover, their 3D spatial and non-spatial elements are analyzed to identify which variables can be provided from 3D city models and building scale elements. To accomplish this, the potential of 3D building information modeling (BIM) and city information modeling (CIM) in property valuation is examined. From indoors; BIM/IFC (Industry Foundation Classes) models are the main data sources for structural and living quality variables. While from outdoors, environmental variables and the surrounding building’s information are provided from 3D city models (CityGML).

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“…This study provides a reference point for building and road designers. Wen et al (2020) postulated that urban roads traffic generates noise and air pollution thereby resulting in a disamenities effects on surrounding residential property value. However, the result of the study showed that road traffic has effects on property value; especially on the floor level of high-rise properties.…”

Section: Effects Of Noise Pollution On Property Valuementioning

confidence: 99%

Effects of Noise Pollution on Residential Property Value in Enugu Urban, Nigeria

et al. 2021

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One of the persistent environmental issues today is high noise levels in residential areas especially in the developing countries. There are several unorganized informal sector activities such as recreational, road traffic, household and religious activities, operation of power generating sets, incompatible uses in space among others that are the sources of noise pollution in residential areas. A number of empirical studies have been carried out on the impact of noise on residential property values. However, one finds it very difficult to ascertain whether noise pollution affects residential property value in Enugu Urban. The aim of this study is to ascertain whether noise pollution has significant influence on residential rental values in the study area. The study has discovered that residential properties affected by noise pollution have lower rental value compared to those unaffected by 3.1% of its rental value. The study has provided some insight to guide property buyers or users, investors, property managers, and valuers as regards property transactions. The study has suggested that property value spatial index of noise pollution in the study area can be built and use as a guide for urban management strategy to achieve sustainable development.

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An empirical study of the impact of vehicular traffic and floor level on property price

Cited by 22 publications

References 78 publications

Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy)

Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy)

3D Variables Requirements for Property Valuation Modeling Based on the Integration of BIM and CIM

Effects of Noise Pollution on Residential Property Value in Enugu Urban, Nigeria

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