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The effect of air pollution on house prices in the Czech republic
Vlček, Martin ; Lahvička, Jiří (advisor) ; Chytilová, Helena (referee)
Analyzing a sample of 2 000 family houses located in six Czech cities (Prague, Brno, Ostrava, Liberec, Plzeň, Ústí nad Labem), the thesis discusses the relationship between the offer price of property and the concentration of PM10 in the air. The hedonic price model drawn up and assessed in the thesis has been extended by additional check variables which describe the other determinants of the price of a house. Based on this model, the thesis demonstrates that an increase in PM10 concentration by 1 mcg/m3 reduces the value of a house by 0.74 %. An inter-city comparison has shown that the concentration of PM10 in the air reduces the price of houses in Ostrava compared to Prague by 12.43 % and in Brno by 0.96 %. The differences in prices resulting from the PM10 pollution range from 0 to 5.3 % in Prague, from 0 to 17.73 % in Brno and from 0 to 22.75 % in Ostrava. Furthermore, the thesis has demonstrated that the price of a house decreases in proportion to the increasing distance from the center, while availability of a garage increases the price of a house. Prague as the capital city has confirmed its position as the most valuable location in the market.
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