A Meta-Analysis of the Effect of Environmental Contamination and Positive Amenities on Residential Real Estate Values

This paper addresses the effects of environmental contamination and positive amenities on proximate residential real estate property values in the United States. Contamination sources include leaking underground storage tanks, superfund sites, landfills, water and air pollution, power lines, pipelin...

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Bibliographic Details
Published in:The Journal of real estate research 2006-01, Vol.28 (1), p.71-104
Main Authors: Simons, Robert A., Saginor, Jesse D.
Format: Article
Language:English
Subjects:
Air pollution
Capital losses
Case studies
Commercial real estate
Contamination
Datasets
Dependent variables
Economic value
Environmental degradation
Environmental impact
Housing market
Housing prices
Landfill
Landfills
Literature reviews
Litigation
Meta-analysis
Nuclear power plants
Property value
Property values
Quantitative analysis
Real estate appraisal
Real estate market
Regression analysis
Residential areas
Residential buildings
Residential real estate
Sales
Statistical significance
Studies
Survey methods
U.S.A
Underground storage
Value appraisal
Variables
Water quality
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Summary:This paper addresses the effects of environmental contamination and positive amenities on proximate residential real estate property values in the United States. Contamination sources include leaking underground storage tanks, superfund sites, landfills, water and air pollution, power lines, pipeline ruptures, nuclear power plants, animal feedlots and several other urban nuisance uses. The study summarizes a literature review of 75 peer-reviewed journal articles and selected case studies, and generates a data set of about 290 observations that contain information about each study’s loss (the dependent variable), with the independent variables being distance from the source, type of contamination, urban or rural environment, geographic region, market conditions and several other variables. Ordinary least squares is used to determine the effect of the contamination variables on reduction in property value. Broad contamination types, amenities, selected economic regions, distance from the source, information, research method and several other variables are statistically significant.
ISSN:0896-5803
2691-1175
DOI:10.1080/10835547.2006.12091168