Highlights ► A hedonic pricing model provides valuation of the rail noise in Seoul, Korea. ► The model trades-off housing prices, locality, and environment intrusion. ► A unit increase in dB(A) decreases property value by 0.53%.
Abstract The paper offers a valuation of urban rail noise in South Korea using the hedonic pricing method. It considers trade-offs in the context of housing prices, locality, and environment intrusion. The model adopted provides a reasonable explanation of the determinants of property values, with a unit increase in dB(A) decreases property value by 0.53% in the Seoul area.
Hedonic estimates of rail noise in Seoul
2012-01-01
4 pages
Article (Journal)
Electronic Resource
English
Hedonic estimates of rail noise in Seoul
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