| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 1066231 | Transportation Research Part D: Transport and Environment | 2007 | 6 Pages |
Abstract
The study evaluates the monetary effect of traffic noise on property values in Seoul, Korea. Hedonic price models are estimated using the zone-based data that includes traffic noise levels, official land price, land use classification, distance to roadways, type of nearby roadway facilities, and traffic characteristics. It is found that a 1% increase in traffic noise associated with a 1.3% decline in land price. Based on this, the annual cost per kilometer due to traffic noise is about $347 thousand.
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Authors
Kwang Sik Kim, Sung Joong Park, Young-Jun Kweon,