Did you know that the proximity of an airport, a collector road or even a train station could impact the price of your property?
The outdoor sound levels recommended by WHO dB (A) in order to protect against effects on health are:
Road: 53 dBA day / 45 dBA night
Air: 45 dBA day / 40 dBA night
Rail: 54 dBA day / 44 dBA night
Beyond the annoyance as such, noise pollution generates high external, economic costs such as health costs, costs related to soundproofing homes, but also and above all depreciates the value of real estate.
For residential property, the discount can be seen very clearly. Whether a house is large or small, noise pollution is a disadvantage. Road, rail and air transport corridors are examples of sources that adversely affect property values due to the noise generated. Residents in the vicinity of these transport infrastructures thus pay the price for this negative externality.
At Caprea, we conduct market research to determine the impact of such nuisances on the value of your property. Below are examples of impairments supported by our research and analyzes, depending on the type of nuisance:
ROAD NUISANCES
Condos located on a noisy main artery: gain in value of around 6.71% if they had been on a collector road, 7.47% on a secondary artery, and 9.67% on a local route.
AIR NUISANCES
Average depreciation of $ 19,950 for residential properties located within the NEF zone in Canada (Noise Exposure Forecast). In%, the depreciation rate varies between -2.28% and -21.68% of the value of the property depending on the noise zone.
RAIL NUISANCES
Depreciation of 0.4% per decibel if the noise is between 50-54 dBA and 0.7% per decibel if the noise is greater than 55 dBA.
Sources:
CAPREA Market Research Department.
Montreal Health and Social Services Agency.
University of British Columbia, Gillen, D. Noise and the Full Cost Investigation in Canada.
UQAM, The Determinants of Value in the Montreal Real Estate Market.
Ministry of Health and Social Services.
Limiting condition for the use of data
The figures are taken from a market study carried out by Caprea in 2021 and are presented to you for informational purposes only. In the event of a special request concerning your property, we invite you to contact Caprea at 514-223-2155.