The impact of flood risk on real estate wealth in Italy

Michele Loberto and Matteo Spuri ()
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Matteo Spuri: Bank of Italy

No 768, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper outlines the main data sources and the methodology used to estimate the impact of flood risk in Italy. It assesses the potential physical damage to the housing stock, identifying the main gaps in the current information set. Estimates of exposure and expected annual loss vary greatly depending on the hazard scenarios used, the assumptions about building vulnerability, and the data’s spatial granularity level. Based on our most reliable estimates, the value of homes potentially exposed to flooding is close to €1 trillion (2020 values), about a quarter of the total housing wealth. The resulting expected annual loss can be estimated at around €3 billion.

Keywords: climate change; real estate; flooding risk (search for similar items in EconPapers)
JEL-codes: O18 Q54 (search for similar items in EconPapers)
Date: 2023-05
New Economics Papers: this item is included in nep-env, nep-mfd, nep-rmg and nep-ure
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_768_23

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