Drought and Property Prices: Empirical Evidence from Provinces of Iran

Mohammad Reza Farzanegan (), Mehdi Feizi and Hassan Gholipour Fereidouni

Economics of Disasters and Climate Change, 2021, vol. 5, issue 2, No 3, 203-221

Abstract: Abstract This study examines the effect of drought on housing and residential land prices in Iran. Using panel data covering the 2006–2015 period for 31 provinces of Iran and applying a dynamic system and the difference Generalized Methods of Moments (GMM) methods, we find that an increase in the balance of water (reducing the severity of drought) within provinces has a positive effect on property prices. Our results are robust, controlling for province fixed effects, time trend, and a set of control variables that may affect property prices.

Keywords: Drought; Property prices; Residential land; Housing; Iran (search for similar items in EconPapers)
JEL-codes: Q54 R21 R31 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s41885-020-00081-0

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