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The Impact of Industrial Sites on Residential Property Values: A Hedonic Pricing Analysis from the Netherlands

Author

Listed:
  • Friso de Vor
  • Henri de Groot

Abstract

De Vor F. and De Groot H. L. F. The impact of industrial sites on residential property values: a hedonic pricing analysis from the Netherlands, Regional Studies. Industrial sites cause several negative externalities. In order to quantify these negative effects, the impact of distance to industrial sites on residential property values is estimated. Data on houses sold in the Randstad region and in the Province of North-Brabant (both located in the Netherlands) in the year 2005 are used, together with data on the characteristics of industrial sites in the same regions and period. The distance to an industrial site exhibits a statistically significant negative effect on the value of residential properties. However, the effect is largely localized within a relatively short distance from the nearest industrial site. [image omitted] De Vor F. et De Groot H. L. F. L'impact des sites industriels sur la valeur des logements: une analyse neerlandaise de la determination hedonique des prix, Regional Studies. Les sites industriels ont plusieurs effets externes negatifs. Pour quantifier ces effets negatifs, on estime l'impact de la distance aux sites industriels sur la valeur des logements. On emploie des donnees sur les logements vendus dans la region Randstad et dans la province de Brabant du Nord (les deux etant situees en Hollande) pour l'annee 2005, conjointement avec des donnees sur les caracteristiques des sites industriels situes dans les memes regions a la meme epoque. Il s'avere que la distance a un site industriel a un effet negatif statistiquement important sur la valeur des logements. Toujours est-il que l'effet est dans une large restreint a une distance relativement courte du site industriel le plus proche. Sites industriels Effets externes negatifs Determination hedonique des prix De Vor F. und De Groot H. L. F. Auswirkung von Industriestandorten auf den Wert von Wohnimmobilien: eine hedonische Preisanalyse in den Niederlanden, Regional Studies. Industriestandorte verursachen mehrere negative Externalitaten. Zur Quantifizierung dieser negativen Effekte wird die Auswirkung der Entfernung von Industriestandorten auf den Wert von Wohnimmobilien geschatzt. Hierfur kommen die Daten von Hausern zum Einsatz, die im Jahr 2005 in der Randstad-Region sowie in der Provinz Nordbrabant (beide in den Niederlanden) verkauft wurden, sowie die Daten uber die Merkmale von Industriestandorten in denselben Regionen und im selben Zeitraum. Die Entfernung von einem Industriestandort wirkt sich auf statistisch signifikante Weise negativ auf den Wert von Wohnimmobilien aus. Allerdings ist diese Auswirkung grosstenteils auf eine relativ kurze Entfernung bis zum nachsten Industriestandort begrenzt. Industriestandorte Negative Externalitaten Hedonische Preiskalkulation De Vor F. y De Groot H. L. F. El efecto de los poligonos industriales en los valores de bienes inmuebles residenciales: analisis de precios hedonicos en los Paises Bajos, Regional Studies. Los poligonos industriales causan varios efectos externos negativos. A fin de cuantificar estos efectos negativos, calculamos el impacto de la distancia a los poligonos industriales en los valores de bienes inmuebles residenciales. Utilizamos datos de viviendas vendidas en la region de Randstad y la provincia de Brabante Septentrional (ambas en los Paises Bajos) en el ano 2005, junto con datos sobre las caracteristicas de los poligonos industriales en los mismos periodos y regiones. La distancia a un poligono industrial muestra un efecto negativo estadisticamente significativo sobre el valor de los bienes inmuebles residenciales. Sin embargo, el efecto esta en gran medida localizado dentro de una distancia relativamente corta desde el poligono industrial mas cercano. Poligonos industriales Efectos externos negativos Precios hedonicos

Suggested Citation

  • Friso de Vor & Henri de Groot, 2011. "The Impact of Industrial Sites on Residential Property Values: A Hedonic Pricing Analysis from the Netherlands," Regional Studies, Taylor & Francis Journals, vol. 45(5), pages 609-623.
  • Handle: RePEc:taf:regstd:v:45:y:2011:i:5:p:609-623
    DOI: 10.1080/00343401003601925
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    Citations

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    Cited by:

    1. Niels Vermeer & Wouter Vermeulen, 2011. "External Benefits of Brownfield Redevelopment: An Applied Urban General Equilibrium Analysis," CPB Discussion Paper 178, CPB Netherlands Bureau for Economic Policy Analysis.
    2. Or Levkovich & Jan Rouwendal, 2016. "Spatial Planning and Segmentation of the Land Market," Tinbergen Institute Discussion Papers 16-018/VIII, Tinbergen Institute.
    3. van Duijn, Mark & Rouwendal, Jan & Boersema, Richard, 2016. "Redevelopment of industrial heritage: Insights into external effects on house prices," Regional Science and Urban Economics, Elsevier, vol. 57(C), pages 91-107.
    4. Ruslan Zaynutdinov, 2015. "Single-Industry Regions of Russia: Determination, Typology and Prospects of Development," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 106-122.

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