Abstract

This study examines the link between air pollution and property prices in Dubai. It aims to find the relationship between environmental and economic factors in Dubai’s rapidly expanding real estate market and concerns about city livability. The research is centered on investigating how differences in air quality between various neighborhoods in Dubai affect property pricing. To achieve this goal, the thesis adopted the Hedonic Pricing Method (HPM) typical for this type of analysis. The Hedonic Pricing Method (HPM) provides insights on the price of a product from its components. The study utilized records of housing transactions and air quality measurements from 2021 to 2023 obtained from open data portals provided by the government of Dubai. The methodology adopted in the study is based on linking the house sales transactions with the environmental data from the nearest air quality station. The Air Quality Index (AQI) was adopted as the measure of air quality. The findings of this research reveal that there is no quantifiable relationship between air quality and property values in Dubai. Several conclusions were drawn from the study. These include the need for more comprehensive datasets, both on the house attributes and the air quality data, to enhance the accuracy of the models. As future research, the thesis recommends including macroeconomic and local investment factors as data sources affecting the price of property in Dubai.

Library of Congress Subject Headings

Air--Pollution--United Arab Emirates--Dubai; Real estate business--United Arab Emirates--Dubai

Publication Date

5-2024

Document Type

Thesis

Student Type

Graduate

Degree Name

Professional Studies (MS)

Department, Program, or Center

Graduate Programs & Research

Advisor

Sanjay Modak

Advisor/Committee Member

Ioannis Karamitsos

Campus

RIT Dubai

Plan Codes

PROFST-MS

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