Environmental influences on property value: noise, air quality and green spaces
The value of a property is determined not only by the building itself, but also by the environmental factors in its surroundings. Noise, odours, exhaust fumes or proximity to factories influence how attractive a location is for potential buyers or tenants. Conversely, green spaces, parks or forests usually have a positive effect on the value.
Noise and air quality as decisive factors
While pollutant emissions from heating systems or factories have tended to fall in recent years, pollution from traffic is steadily increasing. High concentrations of nitrogen oxides or particulate matter in city centres mean that families with children or health-conscious buyers are paying more attention to air quality. This can reduce the value of a property if the air quality turns out to be poor.
Perception in town and country
In large cities, where demand for housing is high, noise and air pollution are often more acceptable, provided the property has soundproof windows or other noise protection measures. In rural areas or small towns, on the other hand, prospective buyers tend to expect a quiet, clean environment. Here, even low levels of traffic noise tend to lead to a reduction in value and longer marketing times.
Green spaces increase attractiveness
On the other hand, parks, woods, playgrounds and other green oases in the neighbourhood increase the quality of life and thus increase the value of the property. A quiet location near green spaces can be decisive in attracting buyers and maintaining or even increasing the sales price.
Noise pollution and vacancies
In villages and small towns in particular, it is clear that properties on noisy thoroughfares or close to noisy businesses are more difficult to market. While there is often no problem finding prospective buyers in quiet side streets, properties in noisy locations are more likely to be vacant.
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Robert Schüßler
Property valuer (EIA and IHK)
