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

Влияние шумового загрязнения, создаваемого дорожным движением на кольцевой дороге Неаполя, на стоимость жилой недвижимости
Vincenzo Del Giudice, Pierfrancesco De Paola
2014-07-04
SCID:  54.1/45as97xx Discuss with AI
Naples Beltwayhedonic price functionresidential real estate valuesroad traffic noise pollutionsemiparametric additive model
Abstract (AI)
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).
Key Findings
1
For each 1 dB increase in sound level, average residential property depreciation ranges from 0.30% for daytime emissions to 0.33% for nighttime emissions.
2
Nighttime traffic noise produces slightly greater estimated property-value depreciation than daytime noise in the studied central Naples market.
3
Road-traffic noise from the Naples Beltway reduces residential property values and marketability when sound levels exceed normal tolerability limits.
4
The study estimates noise-related property depreciation using hedonic price analysis with a semiparametric additive model based on penalized splines.
Research Object

Residential real estate in a central urban area of Naples affected by road-traffic noise from the Naples Beltway

Research Subject

The effect of diurnal and nocturnal road-traffic noise levels on residential property values, marketability, and depreciation

Publication Details
Publication Date
2014-07-04
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Author Information
Authors
Vincenzo Del Giudice
Pierfrancesco De Paola
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