IDEAS home Printed from https://ideas.repec.org/a/nse/ecosta/ecostat_2018_500-501-502_6.html
   My bibliography  Save this article

Accessibility, local pollution and housing prices. Evidence from Nantes Métropole, France

Author

Listed:
  • Dorothée Brécard
  • Rémy Le Boennec
  • Frédéric Salladarré

Abstract

[eng] In this empirical article, we analyze the extent to which accessibility and environmental variables are capitalized in apartment prices in Nantes Métropole, France. Using a sample of 5,590 transactions in 2002, 2006, 2008 from the Perval database, we estimate a spatial hedonic price model that takes into account spatial autocorrelation and spatial heterogeneity. Special attention is also paid to the construction of environmental quality variables (noise exposure, air pollution). We find that apartment prices depend positively on proximity to Nantes city centre but that the public transport network (urban or non-urban) has no significant influence. Noise reduction is valued, but only at low or marginal levels of significance. Last, air quality does not significantly influence apartment prices. These results can be related to good accessibility and environmental quality in Nantes Métropole which probably makes households less sensitive to these issues than in other geographical contexts. This seems to provide little support for sustainable urban mobility plans favoring better accessibility, unless public authorities also target the greater awareness of the use of virtuous modes of transport.

Suggested Citation

  • Dorothée Brécard & Rémy Le Boennec & Frédéric Salladarré, 2018. "Accessibility, local pollution and housing prices. Evidence from Nantes Métropole, France," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 500-501-5, pages 97-115.
    • Handle: RePEc:nse:ecosta:ecostat_2018_500-501-502_6
    DOI: https://doi.org/10.24187/ecostat.2018.500t.1947
    as

    Download full text from publisher

    File URL: https://insee.fr/en/statistiques/fichier/3622007/500-501-502_Brecard-LeBoennec_EN.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.24187/ecostat.2018.500t.1947?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Xinyu (Jason) Cao & Patricia L. Mokhtarian & Susan L. Handy, 2008. "Examining the Impacts of Residential Self‐Selection on Travel Behaviour: A Focus on Empirical Findings," Transport Reviews, Taylor & Francis Journals, vol. 29(3), pages 359-395, October.
    2. Julie Le Gallo, 2002. "Économétrie spatiale : l'autocorrélation spatiale dans les modèles de régression linéaire," Économie et Prévision, Programme National Persée, vol. 155(4), pages 139-157.
    3. Muriel Travers & Gildas Appéré & Solène Larue, 2013. "Évaluation des aménités urbaines par la méthode des prix hédoniques : une application au cas de la ville d'Angers," Économie et Statistique, Programme National Persée, vol. 460(1), pages 145-163.
    4. Liv Osland & Gwilym Pryce, 2012. "Housing Prices and Multiple Employment Nodes: Is the Relationship Nonmonotonic?," Housing Studies, Taylor & Francis Journals, vol. 27(8), pages 1182-1208, November.
    5. Johanna Choumert & Muriel Travers, 2010. "La capitalisation immobilière des espaces verts dans la ville d'Angers. Une approche hédoniste," Revue économique, Presses de Sciences-Po, vol. 61(5), pages 821-836.
    6. Mokhtarian, Patricia L. & Cao, Xinyu, 2008. "Examining the impacts of residential self-selection on travel behavior: A focus on methodologies," Transportation Research Part B: Methodological, Elsevier, vol. 42(3), pages 204-228, March.
    7. Fujita,Masahisa, 1991. "Urban Economic Theory," Cambridge Books, Cambridge University Press, number 9780521396455, September.
    8. Kelejian, Harry H. & Prucha, Ingmar R., 2010. "Specification and estimation of spatial autoregressive models with autoregressive and heteroskedastic disturbances," Journal of Econometrics, Elsevier, vol. 157(1), pages 53-67, July.
    9. V. Smith & Ju Huang, 1993. "Hedonic models and air pollution: Twenty-five years and counting," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(4), pages 381-394, August.
    10. Benjamin Bureau & Matthieu Glachant, 2010. "Évaluation de l'impact des politiques. Quartiers verts et Quartiers tranquilles sur les prix de l'immobilier à Paris," Economie & Prévision, La Documentation Française, vol. 0(1), pages 27-44.
    11. Luc Anselin & Julie Le Gallo, 2006. "Interpolation of air quality measures in hedonic house price models : spatial aspects," Post-Print hal-00485017, HAL.
    12. Coro Chasco & Julie Le Gallo, 2013. "The Impact of Objective and Subjective Measures of Air Quality and Noise on House Prices: A Multilevel Approach for Downtown Madrid," Economic Geography, Taylor & Francis Journals, vol. 89(2), pages 127-148, April.
    13. Jon P. Nelson, 2008. "Hedonic Property Value Studies of Transportation Noise: Aircraft and Road Traffic," Springer Books, in: Andrea Baranzini & José Ramirez & Caroline Schaerer & Philippe Thalmann (ed.), Hedonic Methods in Housing Markets, chapter 3, pages 57-82, Springer.
    14. LE BOENNEC, Rémy & SARI, Florent, 2015. "Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais," MPRA Paper 109261, University Library of Munich, Germany.
    15. Hanson, Craig E. & Wieczorek, William F., 2002. "Alcohol mortality: a comparison of spatial clustering methods," Social Science & Medicine, Elsevier, vol. 55(5), pages 791-802, September.
    16. Schindler, Mirjam & Caruso, Geoffrey & Picard, Pierre, 2017. "Equilibrium and first-best city with endogenous exposure to local air pollution from traffic," Regional Science and Urban Economics, Elsevier, vol. 62(C), pages 12-23.
    17. Stéphane Virol & Guillaume Pouyanne & Sandrine Lyser & Frédéric Gaschet & Jeanne Dachary-Bernard, 2011. "L’impact de la littoralisation sur les marchés fonciers. Une approche comparative des côtes basque et charentaise," Économie et Statistique, Programme National Persée, vol. 444(1), pages 127-154.
    18. Rémy Le Boennec & Florent Sari, 2015. "Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais," Post-Print hal-01657128, HAL.
    19. Kanemoto, Yoshitsugu, 1980. "Theories of urban externalities," MPRA Paper 24614, University Library of Munich, Germany.
    20. Alain Trannoy & Etienne Wasmer, 2013. "La politique du logement locatif," SciencePo Working papers Main hal-01505787, HAL.
    21. Gaschet, Frédéric & Pouyanne, Guillaume, 2011. "Nouvelles centralités et valeurs immobilières : vers un découplage des centralités résidentielles et économiques ?," Revue d'économie régionale et urbaine, Editions NecPlus, vol. 2011(03), pages 499-525, September.
    22. Shanjun Li & Jun Yang & Ping Qin & Shun Chonabayashi, 2016. "Wheels Of Fortune: Subway Expansion And Property Values In Beijing," Journal of Regional Science, Wiley Blackwell, vol. 56(5), pages 792-813, November.
    23. Diao, Mi & Leonard, Delon & Sing, Tien Foo, 2017. "Spatial-difference-in-differences models for impact of new mass rapid transit line on private housing values," Regional Science and Urban Economics, Elsevier, vol. 67(C), pages 64-77.
    24. Jon P. Nelson, 2004. "Meta-Analysis of Airport Noise and Hedonic Property Values," Journal of Transport Economics and Policy, University of Bath, vol. 38(1), pages 1-27, January.
    25. Mirjam SCHINDLER & Geoffrey CARUSO & Pierre PICARD, 2017. "Equilibrium and first-best city with endogenous exposure to pollution from traffic," LIDAM Reprints CORE 2869, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    26. Linda T. M. Bui & Christopher J. Mayer, 2003. "Regulation and Capitalization of Environmental Amenities: Evidence from the Toxic Release Inventory in Massachusetts," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 693-708, August.
    27. Rémi Lemoy & Charles Raux & Pablo Jensen, 2016. "Exploring the polycentric city with multi-worker households: an agent-based microeconomic model," Post-Print hal-00602087, HAL.
    28. Efthymiou, D. & Antoniou, C., 2013. "How do transport infrastructure and policies affect house prices and rents? Evidence from Athens, Greece," Transportation Research Part A: Policy and Practice, Elsevier, vol. 52(C), pages 1-22.
    29. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    30. Birgitta Rabe & Mark Taylor, 2010. "Residential mobility, quality of neighbourhood and life course events," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 173(3), pages 531-555, July.
    31. Mohammad, Sara I. & Graham, Daniel J. & Melo, Patricia C. & Anderson, Richard J., 2013. "A meta-analysis of the impact of rail projects on land and property values," Transportation Research Part A: Policy and Practice, Elsevier, vol. 50(C), pages 158-170.
    32. Joan Walker & Jieping Li, 2007. "Latent lifestyle preferences and household location decisions," Journal of Geographical Systems, Springer, vol. 9(1), pages 77-101, April.
    33. Takaaki Takahashi, 2017. "Determination of neighbourhood housing amenities: Asymmetric effects of consumers’ choices and multiple equilibria," Papers in Regional Science, Wiley Blackwell, vol. 96(3), pages 555-570, August.
    34. W.A.V. Clark & Jun L. Onaka, 1983. "Life Cycle and Housing Adjustment as Explanations of Residential Mobility," Urban Studies, Urban Studies Journal Limited, vol. 20(1), pages 47-57, February.
    35. Billings, Stephen B., 2011. "Estimating the value of a new transit option," Regional Science and Urban Economics, Elsevier, vol. 41(6), pages 525-536.
    36. Katherine Kiel & Melissa Boyle, 2001. "A Survey of House Price Hedonic Studies of the Impact of Environmental Externalities," Working Papers 0111, College of the Holy Cross, Department of Economics.
    37. Rémy Le Boennec & Florent Sari, 2015. "Subcenters, mode choice and transport policies: evidence form Nantes [Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais]," Post-Print hal-01657242, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Rémy Le Boennec & Julie Bulteau & Thierry Feuillet, 2022. "The role of commuter rail accessibility in the formation of residential land values: exploring spatial heterogeneity in peri-urban and remote areas," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(1), pages 163-186, August.
    2. Reuben Ellul & Jude Darmanin & Ian Borg, 2019. "Hedonic house price indices for Malta: A mortgage-based approach," CBM Working Papers WP/02/2019, Central Bank of Malta.
    3. Rémy Le Boennec & Sterenn Lucas, 2020. "Does a positive density perception increase the probability of living in the ideal housing type? Evidence from the Loire-Atlantique Département in France," Working Papers hal-02441513, HAL.
    4. Le Boennec, Rémy & Nicolaï, Isabelle & Da Costa, Pascal, 2019. "Assessing 50 innovative mobility offers in low-density areas: A French application using a two-step decision-aid method," Transport Policy, Elsevier, vol. 83(C), pages 13-25.
    5. Ian Borg & Jude Darmanin & Reuben Ellul, 2019. "Hedonic house price indices for Malta: A mortgage-based approach," CBM Working Papers WP/04/2019, Central Bank of Malta.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Le Boennec, Rémy & Salladarré, Frédéric, 2017. "The impact of air pollution and noise on the real estate market. The case of the 2013 European Green Capital: Nantes, France," Ecological Economics, Elsevier, vol. 138(C), pages 82-89.
    2. Rémy Le Boennec & Florent Sari, 2015. "Subcenters, mode choice and transport policies: evidence form Nantes [Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais]," Post-Print hal-01657242, HAL.
    3. Rémy Le Boennec & Julie Bulteau & Thierry Feuillet, 2022. "The role of commuter rail accessibility in the formation of residential land values: exploring spatial heterogeneity in peri-urban and remote areas," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(1), pages 163-186, August.
    4. Rémy Le Boennec & Florent Sari, 2015. "Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais," Post-Print hal-01657128, HAL.
    5. Rémy Le Boennec & Sterenn Lucas, 2020. "Does a positive density perception increase the probability of living in the ideal housing type? Evidence from the Loire-Atlantique Département in France," Working Papers hal-02441513, HAL.
    6. Dubé, Jean & Legros, Diègo & Devaux, Nicolas, 2018. "From bus to tramway: Is there an economic impact of substituting a rapid mass transit system? An empirical investigation accounting for anticipation effect," Transportation Research Part A: Policy and Practice, Elsevier, vol. 110(C), pages 73-87.
    7. Julie Bulteau & Thierry Feuillet & Rémy Le Boennec, 2018. "Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)," Post-Print hal-04362203, HAL.
    8. Mitra, Suman K. & Saphores, Jean-Daniel M., 2016. "The value of transportation accessibility in a least developed country city – The case of Rajshahi City, Bangladesh," Transportation Research Part A: Policy and Practice, Elsevier, vol. 89(C), pages 184-200.
    9. Rémy Le Boennec, 2014. "Nouvelles centralités, choix modal et politiques de déplacements " 2.0 " : Le cas Nantais," Working Papers hal-00958700, HAL.
    10. LE BOENNEC, Rémy & SARI, Florent, 2015. "Nouvelles centralités, choix modal et politiques de déplacements : le cas nantais," MPRA Paper 109261, University Library of Munich, Germany.
    11. Pierre-Alexandre Mahieu & Romain Craste & Bengt Kriström & Pere Riera, 2014. "Non-market valuation in France: An overview of the research activity," Working Papers hal-01087365, HAL.
    12. Ahlfeldt, Gabriel M. & Nitsch, Volker & Wendland, Nicolai, 2019. "Ease vs. noise: Long-run changes in the value of transport (dis)amenities," Journal of Environmental Economics and Management, Elsevier, vol. 98(C).
    13. Gjestland, Arnstein & McArthur, David Philip & Osland, Liv & Thorsen, Inge, 2014. "The suitability of hedonic models for cost-benefit analysis: Evidence from commuting flows," Transportation Research Part A: Policy and Practice, Elsevier, vol. 61(C), pages 136-151.
    14. Dean Gatzlaff & Kathleen McCullough & Lorilee Medders & Charles M. Nyce, 2018. "The Impact of Hurricane Mitigation Features and Inspection Information on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 57(4), pages 566-591, November.
    15. Andreas Mense & Konstantin Kholodilin, 2014. "Noise expectations and house prices: the reaction of property prices to an airport expansion," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 52(3), pages 763-797, May.
    16. Isabelle Nicolaï & Rémy Le Boennec, 2018. "Smart mobility providing smart cities," Post-Print halshs-01794612, HAL.
    17. Ricardo Hurtubia & Michel Bierlaire, 2014. "Estimation of Bid Functions for Location Choice and Price Modeling with a Latent Variable Approach," Networks and Spatial Economics, Springer, vol. 14(1), pages 47-65, March.
    18. Murakami, Jin & Villani, Caterina & Talamini, Gianni, 2021. "The capital value of pedestrianization in Asia's commercial cityscape: Evidence from office towers and retail streets," Transport Policy, Elsevier, vol. 107(C), pages 72-86.
    19. repec:dau:papers:123456789/5658 is not listed on IDEAS
    20. Sangwan Lee, 2022. "An In-Depth Understanding of the Residential Property Value Premium of a Bikesharing Service in Portland, Oregon," Land, MDPI, vol. 11(9), pages 1-16, August.
    21. Johan Eyckmans & Simon De Jaeger & Sandra Rousseau, 2013. "Hedonic Valuation of Odor Nuisance Using Field Measurements: A Case Study of an Animal Waste Processing Facility in Flanders," Land Economics, University of Wisconsin Press, vol. 89(1), pages 53-75.

    More about this item

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

    Statistics

    Access and download statistics

    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:nse:ecosta:ecostat_2018_500-501-502_6. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Veronique Egloff (email available below). General contact details of provider: https://edirc.repec.org/data/inseefr.html .

    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.