The Effects of Disaster Risk Information on the Real Estate Market in Japan: A Hedonic Approach(in Japanese)

Keiichi Sato, Hiroaki Matsuura, Yozo Tanaka, Shingo Nagamatsu, Masahiro Ooi, Miho Ohara and Yuu Hiroi

ESRI Discussion paper series from Economic and Social Research Institute (ESRI)

Abstract: This paper examines the effects of three different public disaster risk information (earthquakes, floods and landslides) on land, housing, and rent prices in Japan. Using two levels of risk information data (250m-mesh and municipality level), we analyze the following effects: the 30-year probability of an earthquake with a Japan Meteorological Agency seismic intensity scale of upper-6 and more, the 30-year probability of an above-floor flood inundation, and the sediment disaster hazard area on published land price, real estate transaction price, and rent price published online. We find the positive effect of the probability of an earthquake and an above-floor flood inundation on published land and other prices in general, but find that these prices significantly decrease in the area where the 30-year probability of an earthquake and an above-floor flood inundation are particularly high (50% and more). We also find that the sediment disaster hazard area decreases land and other prices across different specifications. The further research is needed to better understand how people receive and process different disaster risk information and choose their residential location.

Pages: 47 pages
New Economics Papers: this item is included in nep-env and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.esri.go.jp/jp/archive/e_dis/e_dis327/e_dis327.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.esri.go.jp:80 (No such host is known. )

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:esj:esridp:327

Access Statistics for this paper

More papers in ESRI Discussion paper series from Economic and Social Research Institute (ESRI) Contact information at EDIRC.
Bibliographic data for series maintained by HORI nobuko ( this e-mail address is bad, please contact ).