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Planes, Trains, and Automobiles: The Impact of Traffic Noise on House Prices.
Academic Journal
Because of large planned infrastructural projects like expansion of the main airport and construction of high-speed railways, noise nuisance has become a national social topic in the Netherlands. Moreover, according to European Union guidelines, determination and enforcement of differentiated noise limits will be delegated from national to local governments in the near future. The value of noise has never been this important. In this paper, the author estimates the non-linear impact of traffic noise on property prices. The used data set is very extensive; over 100,000 sales transactions are studied, with many individual property characteristics, combined with noise levels for 2 million small 100 by 100 meter areas.