NOISE IMPACT ON HOUSING PRICE

Abstract

This study examines the noise impacts from aerodromes, expressways and the Mass Rapid Transit (MRT) on housing prices through the use of proximity measures as a proxy for noise. Hedonic regressions are carried out to measure noise impacts using Singapore Housing Development Board resale data that contains information about characteristics for each resale unit, and QGIS data that contains geographical information on the noise sources and their distances to each resale units. This study finds that noise impact from expressways results in a significant price discount at 2.7% for houses within 0.2km from the nearest expressway. After including noise variables of aerodromes and the MRT, noise impacts from aerodromes and expressways on housing prices are negative and significant, while noise impact from the MRT on housing prices is ambiguous. Across the 3 different noise sources, noise impact from aerodromes is the largest, followed by expressways, and the MRT respectively.