Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220353
Title: Noise effects on private residential properties
Authors: HANS OWEN SEBASTIAN HUSODO
Keywords: Real Estate
Sing Tien Foo
RE
2018-2019 RE
Issue Date: 14-May-2019
Citation: HANS OWEN SEBASTIAN HUSODO (2019-05-14). Noise effects on private residential properties. ScholarBank@NUS Repository.
Abstract: This study aims to investigate the effects of noise externalities from MRT stations on prices of private residential properties. Existing literature finds negative correlations of noise levels and housing prices (Brand and Maennig, 2010). The proximity to MRT stations is used as the key determinant to capture noise effects. The Difference in Differences (DID) Model is used to analyze the noise effects from all the lines and individual MRT lines. The transaction price and the unit price per square meter will be used as the two dependent variables in the study. The treatment group consists of non- landed private properties located within 400 meters from the nearest MRT station. The study shows significant and negative noise effects on housing prices across different treatment housing groups. The noise effects in less than 100m from MRT stations requires further research, as the results vary across different MRT lines. For the distance between 100m and 400m, the results are robust and consistent in capturing negative noise effects on housing price. The findings show that when houses are located further away from the MRT lines, prices increase by 2.6% and 0.2% for the transaction price and the unit price, respectively. Similar findings are observed in the North South and the East West Line, where prices increase 5% and 2.95%, respectively, when houses are located further away from the noise source, i.e. the distance to the nearest MRT station. The different trends observed across different MRT lines supports the hypothesis that the noise effects vary across different MRT lines. Future research would need to be conducted to find new evidence that separate the accessibility premium and noise externalities, which is the main limitation in this current study.
URI: https://scholarbank.nus.edu.sg/handle/10635/220353
Appears in Collections:Bachelor's Theses

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