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Pricing Coastal Amenities and Flood Hazards

Zhenshan Chen () and Charles A. Towe

Land Economics, 2024, vol. 100, issue 1, 109-126

Abstract: Coastlines bring precious amenities to residents, but they also have significant and growing risks from storms and rising sea levels. Disentangling these amenities and risks is of ever-increasing importance to the public and policy makers. Evaluating the most tangible aspect of coastal living in New England, we present a scalable way to construct parcel-specific measures of coastal amenities. Estimates suggest that good coastal amenities, represented by unobstructed ocean views, add about 33%–69% to property prices. Coastal hazard effects are separated from the amenities: the flood zone discounts in coastal Connecticut and Massachusetts are generally low.

JEL-codes: Q51 Q54 (search for similar items in EconPapers)
Date: 2024
Note: DOI: https://doi.org/10.3368/le.100.1.102022-0085R
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:100:y:2024:i:1:p:109-126

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