The Effects of Environmental Issues on Residential House Price (In the Case of Ulaanbaatar City)

Abstract

The purpose of this research is to determine the impact of the environment, especially the quality of air on house price. In addition, it also includes the research of the linkage between the index of air quality and average price of residential house which located in the most crowded districts of Ulaanbaatar such as Bayangol, Bayanzurkh, Chingeltei, Sukhbaatar, Songinokhairkhan and Khan-Uul. The statistical analysis and statistics determination methods were applied to identify the relationship utilizing the air quality index, determined from the air quality measurement data recorded in 2015-2017, and the average price per square meter of newly built apartment houses in the selected districts. The research findings suggest that there is little direct link between the house prices and air quality level, and the air quality levels of Ulaanbaatar districts do not have a significant impact on the price per square meter. Therefore, the air quality index should not considered as a house price determinant.