The Effects of Noise Pollution Produced by Road Traffic of Naples Beltway on Residential Real Estate Values

2014 ◽  
Vol 587-589 ◽  
pp. 2176-2182 ◽  
Author(s):  
Vincenzo del Giudice ◽  
Pierfrancesco de Paola
Keyword(s):  
Real Estate ◽  
Road Traffic ◽  
Additive Model ◽  
Noise Pollution ◽  
Real Estate Market ◽  
Sound Level ◽  
Economic Effects ◽  
Hedonic Price ◽  
Residential Real Estate ◽  
Hedonic Price Function

Noise pollution generated by road traffic represents a damage factor for property values when sound pressure levels exceeds normal tolerability limit. In fact, noise emissions over the normal tolerability limit cause a real estate values reduction and lower marketability in terms of willingness to pay by traders. In this study the effects of noise pollution produced by road traffic of Naples Beltway on residential real estate values​​ for a central urban area have been evaluated. These economic effects were evaluated using an econometric analysis of property prices (Land Price Analysis) based on a hedonic price function built through a semiparametric additive model (Penalized SplineSemiparametric Method) and applied to a sample of defined residential real estate market of Naples. In line with indications provided by wide literature examined, for increase of an sound level unit (expressed in dB) it was verified that average depreciation percentage for real estate values ranges from 0,30% (diurnal emissions) to 0,33% (nocturnal emissions).

scholarly journals Traffic Noise as a Factor Influencing Apartment Prices in Large Cities

2014 ◽  
Vol 22 (3) ◽  
pp. 37-44 ◽  
Author(s):  
Agnieszka Szczepańska ◽  
Adam Senetra ◽  
Monika Wasilewicz
Keyword(s):  
Real Estate ◽  
Road Traffic ◽  
Traffic Noise ◽  
Noise Pollution ◽  
Real Estate Market ◽  
Capital City ◽  
Urban Centers ◽  
European Union Policy ◽  
The Real Estate ◽  
Central Eastern Europe

Abstract Environmental factors are among the key determinants of real estate prices. They include landscape attractiveness, land relief, exposure to sunlight and proximity to natural features. In large urban centers, traffic noise emissions significantly affect decision-making on the real estate market. Weakly developed road networks and the absence of ring roads that shift road traffic outside residential districts are a widespread problem in the cities of Central-Eastern Europe. The prevention of traffic noise pollution, one of the key environmental problems in Europe, is an important goal of European Union policy. This paper analyzes the correlations between apartment prices and traffic noise levels in Olsztyn, the capital city of the Warminsko-Mazurskie Voivodeship (province) in north-eastern Poland. A linear correlation analysis was performed, and the distribution of unit prices of apartments was mapped by ordinary kriging.

scholarly journals International Real Estate Review

2021 ◽  
Vol 24 (2) ◽  
pp. 139-183
Author(s):  
Kristoffer B. Birkeland ◽  
◽  
Allan D. D’Silva ◽  
Roland Füss ◽  
Are Oust ◽  
...  
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Percentage Error ◽  
Residential Real Estate ◽  
Valuation Model ◽  
Stacked Generalization ◽  
Novel Approach ◽  
Out Of Sample ◽  
Selection For ◽  
Automated Valuation

We develop an automated valuation model (AVM) for the residential real estate market by leveraging stacked generalization and a comparable market analysis. Specifically, we combine four novel ensemble learning methods with a repeat sales method and tailor the data selection for each value estimate. We calibrate and evaluate the model for the residential real estate market in Oslo by producing out-of-sample estimates for the value of 1,979 dwellings sold in the first quarter of 2018. Our novel approach of using stacked generalization achieves a median absolute percentage error of 5.4%, and more than 96% of the dwellings are estimated within 20% of their actual sales price. A comparison of the valuation accuracy of our AVM to that of the local estate agents in Oslo generally demonstrates its viability as a valuation tool. However, in stable market phases, the machine falls short of human capability.

scholarly journals Assessment of Average Market Investment Returns in Development of the Residential Real Estate in the Moscow Region

2019 ◽  
Vol 12 (3) ◽  
pp. 140-152
Author(s):  
S. G. Sternik ◽  
Ya. S. Mironchuk ◽  
E. M. Filatova
Keyword(s):  
Real Estate ◽  
Initial Data ◽  
Housing Market ◽  
Return On Investment ◽  
High Reliability ◽  
Real Estate Market ◽  
Moscow Region ◽  
Residential Real Estate ◽  
Market Return ◽  
Total Investment

In the previous work, G.M. Sternik and S.G. Sternik justified the options for the method of assessing the average current annual return on investment in residential real estate development, depending on the nature and content of the initial data on the costs contained in the sources of information (construction costs or total investment costs). Based on the analysis of the composition of the elements of development costs used in various data sources, we corrected the coefficients that allowed us to move from the assessment of the current annual return on investment in development in relation to the cost (full estimated cost) of construction to the assessment of the current annual return on investment in relation to the total investment costs. This calculation method was tested on the example of the housing market inMoscow. As a result, we concluded it is possible its use for investment management in the housing market. In this article, based on G.M. Sternik and S.G. Sternik’s methodology for assessing the return on investment into the development, and taking also into account the increase of information openness of the real estate market, we improved the calculation formulas, using new sources of the initial data, and recalculated the average market return on investment into the development of residential real estate in the Moscow region according to the data available for 2014–2017. We concluded that, since 2015, the average market return on investment takes negative values, i.e. the volume of investment in construction exceeds the revenue from sales in the primary market. However, in the second half of 2017, the indicator has increased to positive values, which was due to a greater extent of the decrease in the volume of residential construction in the region. The data obtained by us, together with the improved method of calculations, allow predicting with high reliability the potential of the development of the regional markets of primary housing for the purpose of investment and state planning of housing construction programs.

The Impacts of Traffic Noise on House Renting and Selling Prices Concerning Residential Areas Case of Sulaimaniyah City Center

2021 ◽  
Author(s):  
Ayoub Smaqaey ◽  
◽  
Mohammed AbdulKareem ◽  
Meryem Komşu ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
High Efficiency ◽  
Negative Impact ◽  
Traffic Noise ◽  
Noise Pollution ◽  
Real Estate Market ◽  
Residential Areas ◽  
City Center ◽  
The Government ◽  
The Impact

The purposes of this research are to examine the impact of traffic noise on the sale and rent prices of the housing real estate in the Sulaimaniyah city center. Besides, highlight the concept of traffic noise pollution in general and in particular in the Sulaimaniyah city center. Thus, people have the right to choose the nature of the acoustic environment, as others should not impose it, the problem of traffic noise considered as one of the main problems that have imposed on the people in Sulaimaniyah city center. Which began to take severe economic and social dimensions, affects the decision-making process in the real estate market. Moreover, consequently, this research analyzes the impact of traffic noise pollution in the sale and rent prices of residential property in Sulaimaniyah city center, the results of the research have confirmed a clear and negative impact the traffic noise on residential real estate prices in Sulaimaniyah city center. Finally, the research indorsed range of important recommendations, such as necessity control the noise pollution at the level of governments and companies, either at the companies’ level by choosing vehicles that release less sound and the use of sound control devices of high efficiency. Either at the government level to determine the volume level or prevent annoying noises (painful), through legislation and laws of environmental protection and impose fees and raise awareness.

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