Climate change’s impact on real estate prices in Chile

Karla Hernández, Facundo Luna and Carlos Madeira

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: Climate change should deteriorate the value of real estate, but studies are lacking for developing economies which may suffer the worst weather changes. We match an administrative register of all the real estate properties’ transactions in Chile between 2002 and 2020 with a high spatial resolution dataset of local temperatures and precipitation. Even after controlling for a wide set of home characteristics or fixed-effects for each property, we find that fluctuations in temperatures had an impact on the prices of residential homes and agricultural properties.

Date: 2024-11
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Related works:
Journal Article: Climate change's impact on real estate prices in Chile (2022)
Working Paper: Climate change’s impact on real estate prices in Chile (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:1030

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