Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222758
Title: THE IMPACT OF MRT TRACK NOISE ON RESIDENTIAL PROPERTY PRICES
Authors: TAN YI JUN, VANESSA
Keywords: Real Estate
Diao Mi
RE
2018-2019 RE
Issue Date: 8-May-2019
Citation: TAN YI JUN, VANESSA (2019-05-08). THE IMPACT OF MRT TRACK NOISE ON RESIDENTIAL PROPERTY PRICES. ScholarBank@NUS Repository.
Abstract: Like road traffic noise and air traffic noise, railway noise can cause annoyance to people in urban cities and even cause a reduction on residential property prices. This present study investigates the effect of railway noise from aboveground Mass Rapid Transit (MRT) tracks in Singapore on residential property prices around them. To estimate the capitalization effects of railway noise on residential property prices, a Difference-in-Difference (DD) approach was used which considered spatial underground and aboveground MRT tracks as control and treatment groups respectively, as well as spatial binary buffer zones with increasing distance from the MRT tracks. The results largely show a negative relationship between proximity to MRT tracks and property prices. A locational discount of 8.40% to 12.6% was evident for properties within a perpendicular distance of 0 – 150m, 0 – 200m, 0 – 350m, 0 – 400m, 0 – 450m and 0 – 500m from aboveground tracks, as compared to properties near underground tracks. Subsequently, railway noise externality across various storey levels in residential properties near the MRT tracks was measured. However, there was no strong evidence to suggest that there is a decreasing locational discount as storey level increases given the decreasing railway noise externality on higher floors. This research aims to add to the limited studies of railway noise effects on residential property prices in Singapore, as well as to find railway noise effects across different floors, which have not been studied extensively in previous literature before. Furthermore, it uses a new methodology dimension by comparing residential property prices across multi-spatial reference levels near aboveground and underground MRT tracks, to assess the impact of railway track noise on residential property prices.
URI: https://scholarbank.nus.edu.sg/handle/10635/222758
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