Abstract
Airports in Poland are obliged to observe the sustainable development principle and therefore to reduce their environmental impact by creating so-called limited use areas (LUA) related to aircraft-generated noise. The research authors analyzed airports’ impact on the prices of single-family homes located in the vicinity of airports. The LUA is therefore defined as the area designated to study the airport’s specific impact on the single-family housing market. This is a formal limit which determines the examination of price changes and the decision-making conditions of market participants. This methodical approach is justified because no excessive noise is expected outside the LUA. Therefore, two markets in the vicinity of airports were examined. One is in an LUA which is closer to the airport, and the other market is outside the LUA where external noise effects are not present. Thus, we consider that real estate located outside the LUA is not subject to a significant negative impact from the airport. The study covered the Gdańsk Lech Walesa Airport and the Warsaw Chopin Airport in Poland in adjacent areas with the research time horizon of 2013–2017. The study examined single-family house prices. We used a time series analysis, a classic multiple regression model, a spatial autoregressive model, and geographically weighted regression models in our research. Additionally, Geographical Information System (GIS) tools were used to visualize the results of our study. The research result was to demonstrate different impact levels of airports on the prices of single-family houses located in limited-use areas in Gdańsk and Warsaw. This research carries significant implications for the general public and airports’ economic decisions in resolving conflicts between the airport and residential property owners in airports’ vicinities.
Highlights
The sustainable development concept stipulates that today’s generations’ needs are met without compromising the ability of future generations to meet their own needs in order to ensure intra-generational and intergenerational justice [1,2]
In terms of neoclassical economics, market behaviors which lead to resource allocation are most often described with the market equilibrium models which take into account three elements: demand, supply, and price
They can be taken into account in various ways, i.e., by applying the spatial econometric model [62], spatially switching regression [63], random coefficient models [64], semi-logarithmic model using a row-standardized distance-based spatial weight matrix [65], or geographically weighted regression [66]
Summary
The sustainable development concept stipulates that today’s generations’ needs are met without compromising the ability of future generations to meet their own needs in order to ensure intra-generational and intergenerational justice [1,2]. Sustainable development which strives for improvement in economic, social, and ecological dimensions supports other human models [13,14,15,16], including homo reciprocans, neo-homo economicus, or homo socio-economicus This form of man, or broadly defined society perception, focuses on human behavior strongly conditioned by social, religious, cultural, and gender determinants. According to Górka [17], the eco-development concept refers to socio-economic development related to environment protection and respect for nature Such a definition does not represent the part of society’s radical-extremist, ecological attitudes including zero-growth theory (more in [18,19]), which postulates the dominance of pro-ecological thinking over the previously quoted economic and social dimensions. Sustainable development in the ecological aspect is an environment protection process [20] through the economic processes of greening [21] in the form of new economic development methods, [22] new technologies [23], and new energy carriers [24], as well as new forms of societal non-economic activity [25], while minimizing the economic development growth-rate slowdown
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