Report , News of 12 September 2012

Expected Airport Noise Significantly Reduces Real Estate Prices

Bernd Leitner (Copyright)  Reihenhaus Reihenhäuser Haus
Copyright: Bernd Leitner

Abstract:
The construction or expansion of an airport leads to a significant increase in aircraft noise in the surrounding area, which, in turn, results in a marked reduction in the prices of houses or apartments located under the planned flight paths. Even expectations about future noise pollution can significantly reduce real estate prices in the affected areas. The present study estimates the effects of expectations regarding exposure to noise on housing prices in the proximity of the new Berlin Brandenburg International Airport. Although the official opening date for this major airport is announced for October 2013, property prices have already fallen by nine percent for each kilometer closer to the flight path.

The complete publication in German by Andreas Mense and Konstantin A. Kholodilin in: DIW Wochenbericht 37/2012 | PDF, 441.31 KB