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Noise Expectation and House Prices

Author

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  • Andreas Mense
  • Konstantin A. Kholodilin

Abstract

In this paper, we examine the effects of an airport expansion on the prices of houses and flats located under the planned flight corridors. We focus on the role of expectations about the exposure to noise and find that proximity to the planned corridors significantly reduces real estate prices in the affected areas, by around 41% to 60%, depending on the sample. Hereby, the various plans of expanding Berlin-Brandenburg Inter- national airport are used as a source of exogenous variation.

Suggested Citation

  • Andreas Mense & Konstantin A. Kholodilin, 2012. "Noise Expectation and House Prices," Discussion Papers of DIW Berlin 1244, DIW Berlin, German Institute for Economic Research.
    • Handle: RePEc:diw:diwwpp:dp1244
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    File URL: https://www.diw.de/documents/publikationen/73/diw_01.c.407949.de/dp1244.pdf
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    Cited by:

    1. Mense, Andreas & Wirth, Benjamin, 2014. "Flat Prices, Cell Phone Base Stations, and Network Structure: An Instrumental Variable Approach to Endogenous Locations," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100618, Verein für Socialpolitik / German Economic Association.
    2. Benjamin Wirth & Andreas Mense, 2014. "Flat Prices, Cell Phone Base Stations, and Network Structure," ERSA conference papers ersa14p1552, European Regional Science Association.

    More about this item

    Keywords

    Airport noise; housing prices; price expectations; quasi-experiment; spatial effects;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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