Investing in real estate is a significant decision that requires thorough consideration of multiple factors. One increasingly common question among homebuyers and investors is whether purchasing property near an airport is a good idea. While properties near airports can offer certain benefits, they also come with unique challenges. In this article, we’ll examine the pros, cons, and other essential factors to help you decide whether buying a property near an airport is wise for you.
Benefits of buying property near an airport
1. Excellent connectivity
Living near an airport guarantees excellent connectivity to domestic and international locations. This can be a massive advantage for frequent travellers, professionals, and business owners who need easy access to air travel. Being close to the airport means reduced travel time, allowing more convenience and efficiency in your day-to-day life.
2. Infrastructure development
Areas around airports often experience rapid development, including improved roads, public transport systems, and modern amenities. As airports grow in importance, local governments and private developers invest in surrounding infrastructure, making these areas more livable
and convenient for residents.
3. Rental yield and property appreciation
Properties near airports tend to attract higher demand, especially among tenants like business professionals and expatriates. This can lead to strong rental yields. Moreover, as connectivity and infrastructure improve, the property value will likely appreciate over time, offering significant returns for investors.
4. Employment opportunities
Airports are economic hubs that generate employment opportunities in aviation, hospitality, retail, and logistics. Living near an airport can make commuting easier for individuals working in these industries, creating additional demand for nearby properties.
5. Ease of transportation
Proximity to an airport often translates into well-maintained roads and access to various transportation options such as metro, buses, and cabs. This adds to the convenience for residents, making the location more attractive to prospective buyers.
How does proximity to an airport impact property value?
Proximity to an airport can significantly influence property values, with effects varying based on factors such as noise pollution, accessibility, and economic benefits.
Noise pollution and property devaluation
Numerous studies have identified a negative correlation between airport noise and residential property values. For instance, research indicates that properties in high-noise zones near airports often experience price reductions due to the constant disturbance caused by aircraft operations.
Accessibility and economic advantages
Conversely, proximity to an airport can offer significant advantages, particularly regarding accessibility and economic opportunities. Properties near airports benefit from improved transportation links, which can be a boon for frequent travellers and businesses reliant on air travel. This enhanced connectivity can make nearby locations more attractive for commercial development, potentially increasing property values.
Case studies and regional variations
The impact of airport proximity on property values can vary by region. For example, a study examining the relocation of Hong Kong’s Kai Tak Airport found that removing airport noise led to a 24% increase in nearby property prices, highlighting the significant effect of noise reduction on real estate values.
Drawbacks of buying property near an airport
1. Noise pollution
Noise pollution is one of the most significant drawbacks of living near an airport. The constant sound of planes taking off and landing can disrupt daily life, affecting sleep and overall well-being. Even with modern noise insulation techniques, complete soundproofing is challenging.
2. Air pollution
Airports contribute to increased levels of air pollution due to aircraft emissions, vehicular traffic, and industrial activity in the vicinity. Prolonged exposure to pollutants can pose health risks, particularly for children and individuals with respiratory issues.
3. Safety concerns
Living near an airport involves certain safety risks, such as potential aircraft or infrastructure accidents. Although rare, these concerns can be unsettling for some buyers.
4. High property prices
While properties near airports may offer excellent investment potential, their initial cost can be higher than those in less connected areas. The premium price tag might not be affordable for all buyers.
5. Crowded neighborhoods
Areas near airports often see heavy traffic, crowded streets, and increased commercial activity. This can lead to a less peaceful environment and congestion, which some buyers may find undesirable.
6. Limited green spaces
Due to the focus on urbanisation and commercial development around airports, these areas often lack adequate green spaces and recreational areas. This can impact residents’ overall quality of life, particularly families with children.
What are the health and environmental concerns of living near an airport?
Living near an airport presents several health and environmental challenges that can significantly impact residents’ well-being.
Health concerns
One of the primary health issues associated with airport proximity is noise pollution. The constant sound from aircraft takeoffs, landings, and ground operations can lead to sleep disturbances, increased stress levels, and a higher risk of cardiovascular diseases. Studies have shown that exposure to elevated noise levels can result in hypertension and ischemic heart disease. Air pollution is another significant concern. Aircraft emissions release ultrafine particles (UFPs) and other atmospheric pollutants. Research indicates that exposure to aviation-related UFPs may be linked to health issues such as high blood pressure, diabetes, and dementia among individuals living near major airports.
Environmental concerns
Beyond health implications, environmental issues arise from airport operations. The construction and expansion of airports often lead to habitat disruption, affecting local flora and fauna. Additionally, the increase in paved surfaces can alter natural drainage patterns, potentially causing erosion and flooding in surrounding areas. Communities near airports also face challenges related to chemical pollutants. For instance, per- and polyfluoroalkyl substances (PFAS), commonly known as "forever chemicals," has been detected in areas surrounding airports, posing long-term environmental and health risks.
Key considerations before buying
1. Type of property
The type of property you are considering—residential, commercial, or mixed-use—should influence your decision. Residential properties near airports may face noise pollution, while commercial properties can thrive due to increased foot traffic and business opportunities.
2. Noise mitigation measures
Check whether the property is equipped with noise-reduction measures such as double-glazed windows, soundproofing materials, or advanced ventilation systems. Properties with such features are better suited for long-term living.
3. Distance from the airport
The exact distance from the airport plays a significant role. Properties that are too close might experience higher levels of noise and air pollution. However, 5–10 kilometres away can balance convenience and reduce disturbances.
4. Future development plans
Research the area’s future development plans. Upcoming projects such as metro extensions, shopping malls, or schools can add value to your property. Conversely, overdevelopment might lead to overcrowding and loss of appeal.
5. Resale value and rental demand
Evaluate the historical trends of property prices and rental yields in the area. Ensure that the property aligns with your investment goals, whether they involve short-term gains or long-term value appreciation.
6. Legal compliance
Ensure the property complies with all legal requirements, including zoning laws and environmental clearances. Properties near airports might be subject to additional regulations due to height restrictions or safety standards.
For whom is buying near an airport ideal?
1. Frequent travelers
Professionals who travel frequently for work or leisure can benefit significantly from living near an airport. The reduced commute time makes travelling more convenient and less stressful.
2. Real estate investors
Investors looking for high rental yields and long-term appreciation might find properties near airports appealing. Tenants such as airline staff, business travelers, and expatriates often prefer such locations.
3. Business owners
Commercial establishments like hotels, restaurants, and retail stores can thrive in areas close to airports. Business owners can capitalise on the high footfall and diverse customer base.
Case study: real estate near major indian airports
1. Delhi (Indira Gandhi International Airport)
The Aerocity area near IGI Airport has become a prominent commercial and hospitality hub, attracting investors and residents. Properties in nearby areas such as Dwarka and Vasant Kunj are popular among homebuyers due to their connectivity and amenities.
2. Mumbai (Chhatrapati Shivaji Maharaj International Airport)
Andheri East, Vile Parle, and Powai are prime locations near Mumbai Airport. These areas command high property prices due to their proximity to the airport, metro connectivity, and availability of modern amenities.
3. Bengaluru (Kempegowda International Airport)
North Bengaluru, particularly Devanahalli and Hebbal, has witnessed rapid growth due to the presence of Kempegowda International Airport. The area has become a hotspot for IT professionals and real estate investors.
4. Hyderabad (Rajiv Gandhi International Airport)
IT parks, excellent infrastructure, and affordable property options have fueled the growth of Shamshabad and Gachibowli near Hyderabad Airport. These areas offer a balanced mix of residential and commercial properties.
5. Kolkata (Netaji Subhas Chandra Bose International Airport)
Rajarhat and New Town near Kolkata Airport have emerged as prominent residential and commercial hubs. With affordable property rates and robust infrastructure, these areas attract investors and homebuyers.
How to decide?
To decide whether buying property near an airport is the right move, consider your priorities and circumstances:
- Lifestyle preferences: Living near an airport might suit you if you value convenience and connectivity over a peaceful environment. However, if tranquillity and greenery are more important, this option may not align with your preferences.
- Financial goals: Evaluate whether the property aligns with your financial goals. High rental yields and long-term appreciation are attractive but ensure the initial investment is feasible.
- Health considerations: Living near an airport might not be ideal if you or your family are sensitive to noise or air pollution. Ensure that health and well-being are prioritised in your decision.
Housing.com POV
Buying property near an airport comes with its unique set of advantages and challenges. While excellent connectivity, infrastructure development, and investment potential are compelling benefits, noise, air pollution, and higher property prices might deter some buyers. Carefully evaluate your lifestyle, financial goals, and long-term plans before deciding. With thorough research and planning, you can determine whether a property near an airport is the right choice for you.
FAQs
What are the potential risks of increased traffic congestion near airports on property accessibility?
Living near an airport often means dealing with heavy traffic in surrounding areas. This could impact daily commutes and the overall convenience of accessing your property. Understanding future infrastructure plans to ease congestion is vital before purchasing.
Do airport expansions affect property resale value in the long term?
Airport expansions can either enhance property values through better infrastructure or reduce them due to increased noise and traffic. Evaluating long-term plans for the airport is critical to understanding potential resale value fluctuations.
How do environmental regulations around airports impact nearby property developments?
Airports are subject to strict environmental regulations, which could limit the scope of nearby property developments or increase compliance costs. Buyers should be aware of these restrictions before investing.
Are there specific types of properties (residential vs. commercial) that benefit more from being near an airport?
While commercial properties often see significant benefits from proximity to airports, the same may not hold for residential properties due to noise and air pollution. Understanding the type of property that aligns with your goals is essential.
How can soundproofing measures enhance the livability of properties near airports?
Advanced soundproofing solutions, such as double-glazed windows and insulated walls, can mitigate noise pollution and make properties near airports more comfortable for residents. Exploring properties with these features is a good strategy.
Does living near an airport have any tax or zoning benefits?
Sometimes, local authorities may offer tax incentives or relaxed zoning laws to encourage property development near airports. Researching these benefits can help determine if the investment is financially advantageous.
What impact does airport-related air pollution have on long-term property maintenance costs?
Properties near airports are exposed to higher levels of air pollution, which can lead to faster wear and tear on exteriors and require frequent maintenance. Factoring these costs into your decision-making is crucial.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
