Title: Hazardous waste sites and property values: a French case study in the light of US analyses

Authors: Bertrand Zuindeau, Gwenael Letombe

Addresses: Faculty of Economic and Social Sciences, CLERSE-IFRESI (CNRS), University of Lille 1, 59655 Villeneuve d'Ascq cedex, France. ' Faculty of Economic Sciences, EREIA-IFRESI (CNRS), University of Artois, 9 rue du Temple BP 665, 62030 Arras cedex, France

Abstract: This paper aims to evaluate the impact of a polluted site on property values by using the hedonic price method. The case study concerns a lead foundry in a previously industrialised area in northern France. The results are fairly convincing. The impact is confirmed, but appears to be especially apparent at relatively close distances. More than one mile away, the impact is much weaker. Moreover, a chronological analysis, which includes interaction terms, allows one to demonstrate a significant variability in results, depending upon the years being examined. The results obtained are compared with those derived from US studies. It appears that more than one mile away, the calculated impact values are fairly similar, about 1–2% of the average value of a house. In contrast, bearing in mind the higher average property values in the USA, gradient prices in absolute values are, in general, higher in that country.

Keywords: evaluation; hazardous waste sites; property values; hedonic price method; environmental value transfer; France; polluted sites; environmental pollution; lead foundry; USA; United States.

DOI: 10.1504/IJEP.2008.017918

International Journal of Environment and Pollution, 2008 Vol.32 No.3, pp.387 - 409

Available online: 23 Apr 2008 *

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