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The effects of highway development on housing prices

机译：公路发展对房价的影响

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The purpose of this research is to estimate the effects of highway development projects on the price of housing. Transportation development projects, highways in particular, improve a certain area's accessibility but also increase its levels of exposure to traffic intensity and noise pollution. These externalities are evaluated by homeowners and residents and are reflected in the price of housing. In this paper, we use several repeat sales model specifications, including difference-in-differences estimators, and control for neighborhood effects to examine housing price trends in the municipalities around two newly developed highways in the Netherlands. The results of the research demonstrate that changes in accessibility result in a significant positive effect on the price of housing in nearby municipalities, but that increased noise pollution and traffic intensity levels result in a decrease in prices. The findings also confirm that combining the total effects of all externalities, the effect of highway development on the price of housing is generally positive, and this effect is salient even before the project is completed due to public anticipation effects.
机译：这项研究的目的是估计公路发展项目对住房价格的影响。交通发展项目，特别是高速公路，不仅改善了某个地区的可及性，还增加了其交通强度和噪声污染的程度。这些外部性由房主和居民评估，并反映在住房价格中。在本文中，我们使用了几种重复销售模型规范，包括差异差异估算器和邻域影响控制，以检查荷兰两条新开发的高速公路周围城市的房价趋势。研究结果表明，无障碍设施的变化对附近城市的房屋价格产生了显着的积极影响，但噪音污染和交通强度的增加导致价格下降。研究结果还证实，结合所有外部因素的总体影响，高速公路发展对住房价格的影响总体上是积极的，而且由于公众的期待，这种影响甚至在项目完成之前也是显着的。

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