Hedonic estimates of rail noise in Seoul

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.

► 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%.