Climate change’s impact on real estate prices in Chile

Karla Hernández, Roberto Luna Mallea () and Carlos Madeira

MPRA Paper from University Library of Munich, Germany

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.

Keywords: global warming; real estate prices; climate change; Chile; Latin America (search for similar items in EconPapers)
JEL-codes: O44 O54 Q51 R11 R30 (search for similar items in EconPapers)
Date: 2022-11-22
New Economics Papers: this item is included in nep-agr, nep-env and nep-ure
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Published in PLoS Sustainability and Transformation 1.11(2022): pp. 1-17

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:118974

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