The effect of flood risk information on property values

Emmanuelle Lavaine ()
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Emmanuelle Lavaine: LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier

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Abstract: The paper examines the effect of location in a flooding zone on property prices inthe Ile de France region in France over the period 2002 to 2012. We use unique dataon property transactions from a major European city exploiting the different datesof implementation of special risk zoning regulation as well as the date of implemen-tation of compulsory information disclosure. Using an identification strategy basedon a spatial difference-in-difference specification, the preliminary results indicate thatonce the regulatory zone (PPRi) has been prescribed, the transaction prices for flatsdecrease by approximately 6% in areas that are part of a PPRi at the time of theprescription. No statistically significant effect is found on house prices.

Keywords: flooding; hedonic price analysis; difference in difference estimation (search for similar items in EconPapers)
Date: 2017-06-26
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Published in 23rd Annual Conference of the European Association of Environmental and Resource Economists, Jun 2017, Athènes, Greece

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02048628

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