Land and Real Estate Price Sensitivity to a Disaster: Evidence from the 2011 Thai Floods

Yasuyuki Sawada, Hiroyuki Nakata, Kunio Sekiguchi () and Yoko Okuyama ()
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Kunio Sekiguchi: Ehime Prefectural Government
Yoko Okuyama: Yale University

Economics Bulletin, 2018, vol. 38, issue 1, 89-97

Abstract: This paper investigates the impacts of a natural disaster on land and real estate prices. Using unique land and real estate price panel datasets for multiple periods, one group before and the other after the 2011 floods in Thailand, we find that the floods adversely affected land prices for industrial use. However, the prices of commercial and residential land did not decline despite substantial damages from the floods, suggesting a relative lack of liquidity or other frictions in the land and real estate markets in Thailand.

Keywords: Natural Disaster; Floods; and Land and Real Estate Prices (search for similar items in EconPapers)
JEL-codes: G1 Q5 (search for similar items in EconPapers)
Date: 2018-01-24
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Citations: View citations in EconPapers (2)

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