17
Jun
2005

Base station proximity affect property prices

Cellular News 16 06 05

A study conducted by the Israeli newspaper, Haaretz has found that having a cell phone tower on a building reduces the price of neighboring residential properties by an average of 8-20%, with a peak of a halving of the value of an apartment in one case.

Property surveyor Boaz Barzilai discovered in his research that the location of a cellular antenna causes nearby apartments to lose 8-20 percent of their value and even more in some instances.

The paper noted that some lawsuits have been filed with local building and planning councils in Ramat Hasharon and Tel Aviv, due to a drop in value of apartments located near cellular antennas. Additional lawsuits are in their initial stages of preparation.

The lawsuits are for 20-30 percent of the apartments' value.
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