Spatial Hedonic Models for Measuring the Impact of Sea-Level Rise on Coastal Real Estate
Christopher F. Dumas and
John Whitehead ()
No 09-24, Working Papers from Department of Economics, Appalachian State University
This study uses a unique integration of geospatial and hedonic property data to estimate the impact of sea-level rise on coastal real estate in North Carolina. North Carolina’s coastal plain is one of several large terrestrial systems around the world threatened by rising sea-levels. High-resolution topographic LIDAR (Light Detection and Ranging) data are used to provide accurate inundation maps for all properties that will be at risk under six different sea-level rise scenarios. A simulation approach based on spatial hedonic models is used to provide consistent estimates of the property value losses. Results indicate that the northern part of the North Carolina coastline is comparatively more vulnerable to the effect of sea-level rise than the southern part. Low-lying and heavily developed areas in the northern coastline are especially at high risk from sea-level rise. Key Words: Climate change, coastal real estate, sea-level rise, spatial hedonic models
JEL-codes: D61 Q24 Q54 R14 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:apl:wpaper:09-24
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