IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i3p1713-d740607.html
   My bibliography  Save this article

Assessing the Impact of Aviation Noise on Housing Prices Using New Estimated Noise Value: The Case of Taiwan Taoyuan International Airport

Author

Listed:
  • Hsiu-Chang Tsao

    (Graduate Institute of Business Administration, Fu Jen Catholic University, New Taipei City 242062, Taiwan)

  • Chi-Jie Lu

    (Graduate Institute of Business Administration, Fu Jen Catholic University, New Taipei City 242062, Taiwan
    Department of Information Management, Fu Jen Catholic University, New Taipei City 242062, Taiwan
    Artificial Intelligence Development Center, Fu Jen Catholic University, New Taipei City 242062, Taiwan)

Abstract

Aviation noise at airports has a significant impact on nearby residents’ quality of life and residential property values. This study evaluated the impact of aviation noise based on house prices by using three different hedonic price models. Two novel independent noise variables, the estimated aviation noise value and noise reward fund are proposed for constructing effective hedonic price models. The real data of real estate transactions from the region defined by the Taoyuan International Airport’s 60–64 dB day-night average sound level (Ldn) and ≥65 dB Ldn noise contours are adopted as empirical data. Empirical results showed that the double-log hedonic price model with the proposed estimated aviation noise variables is the most suitable model for this study. Based on the double-log model, this study found that aviation noise has a significant negative impact on house prices in both noise contour areas of 60–64 dB Ldn and ≥65 dB Ldn. The rate of decline in house prices is approximately USD 2356.02/dB and USD 3622.78/dB in the 60–64 dB Ldn and ≥65 dB Ldn contour areas, respectively. Our results also showed that the noise reward fund had no significant impact on the house prices which implies that the current subsidy method has been maintained at an appropriate level for Taoyuan International Airport.

Suggested Citation

  • Hsiu-Chang Tsao & Chi-Jie Lu, 2022. "Assessing the Impact of Aviation Noise on Housing Prices Using New Estimated Noise Value: The Case of Taiwan Taoyuan International Airport," Sustainability, MDPI, vol. 14(3), pages 1-17, February.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:3:p:1713-:d:740607
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/3/1713/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/14/3/1713/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Min-feng Lee & Guey-shya Chen & Shao-pin Lin & Wei-jie Wang, 2022. "A Data Mining Study on House Price in Central Regions of Taiwan Using Education Categorical Data, Environmental Indicators, and House Features Data," Sustainability, MDPI, vol. 14(11), pages 1-15, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:3:p:1713-:d:740607. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.