| dc.description.abstract |
People are often worried that Not-In-My-Back-Yard (NIMBY) facilities such as electrical substation and high voltage tower, built nearby their houses, could affect their health or house price. Sometimes, this even results in the protest to the proposed locations of new electrical substation. Therefore, this study investigates the effects of electrical substation and its distance away from local residential area on house price.
Based on the same social and economic conditions, five electrical substations in Taipei city, Taiwan, are selected for this study. The sold prices of the nearby houses, within half kilometer distance, obtained from real estate actual transaction price inquiring system of the Ministry of the Interior, Taiwan, are compared with the data of the electromagnetic wave, obtained from Environmental Protection Administration by using the spatial analysis of Geographic Information System, GIS. These spatial data are further analyzed by the hedonic price method. This method is a statistical regression analysis modeling that is widely used to estimate the house price that reflect the value of local environmental attributes, especially for studying the economic effectiveness of urban planning.
This study first reviews the literature and discusses the factors that might affect the house price. Secondly, the data of the house price in Taipei are collected, then analyzed by using hedonic price method to obtain the correlation between the potential factors and house price, especially the effect of electrical substation. The study will further evaluate this effect on the house price and the necessity of electrical substation, which will severe as a reference for the future planning of electrical substation.
The result of hedonic price method shows the location of electrical substation does slightly affect the house price, but it is not a major factor, though the electrical substation has conventionally been considered as one of Not-in-My-Back-Yard (NIMBY) facilities. This change might be because the electricity supplier has been trying to beautify the indispensable electrical substation in recent years. From the literature review and the result of the empirical modelling, the study shows that there is no direct influence of the electrical substation on house price in Taipei. As the result, the electrical substation is not a major factor that affects the house price. | en_US |