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Article: The Effect of Three Incineration Plants on Residential Property Values in Hangzhou, China Author: Qinna Zhao, Robert A. Simons, Zhong Fen Abstract: Incineration plants and derelict industrial sites can have a number of adverse effects on the local environment and social welfare, including diminution of property values. Although many incineration plants exist in China, there has been relatively little research done to quantify the negative externality affects there. This study considers the effects of three municipal incineration plants in Hangzhou city on residential property values. A hedonic pricing model of 2,200 residential transactions in over 70 multifamily buildings within ten kilometers of the incineration plants over a one year period including 2014 and 2015 was run. Generally, results show that proximate properties show decreases in initial listing price of up to 25%, declining until the effect is gone about three kilometers from the incinerator. Most consistent losses are approximately 10% between 1-2 kilometers from the nearest incinerator. These results are comparable to similar situations in the United States and Canada. KeywordsĄG
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