Caractéristiques hédoniques et changement environnemental : la couverture de l'autoroute A1

The aim of this report is to identify the possible effect of covering the highway A1 at Saint-Denis (near Paris) on housing prices. This covering induces a notable reduction of the noise nuisance and an improvement of the urban environment. In order to measure the effects from covering, we have used the hedonic price method. This approach consists of measuring the contribution of the different characteristics of a dwelling to its value. The covering of A1 is a new characteristic of the nearby dwellings. We have used two different strategies to account for the effects of covering on house prices. On the one hand, we need to assess that it is a new characteristic and not the variation of an existing one effecting house prices ; and, on the other hand, that this characteristic holds for all the dwellings in the area. The first measure of the global effect is determined by the use of dichotomous variables. This effect accounts for around 16 % of the average value of the flats in the area. The second strategy measures only phonic improvement determined by the reduction of the decibels of every flat. This is valued at between 7 % and 8 % for a flat in front of the covered highway and 4 % for a flat in the periphery of the highway. Even though here is a significant effect, the covering does not radically change the existing housing market. Classification JEL : D4, R31, R4 ou Q2.