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Real Estate Sector in the Face of Climate Change Adaptation in Major Polish Cities

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  • Wieteska-Rosiak Beata

    (The Faculty of Economics and Sociology, University of Lodz)

Abstract

This paper aims to review subject-matter literature and analyse the development policy documents of major Polish cities addressing the issue of climate change adaptation (urban adaptation plans, Polish abbr. MPA) and concerning the real estate sector; it is also an attempt to draw conclusions and identify potential benefits and challenges that the construction sector is currently facing. The literature focuses on coastal real estate, costs, benefits and barriers in the adaptation of buildings. MPAs point to the significant role of the real estate sector in adapting to climate change. Soft and hard instruments are becoming increasingly important in MPA. These are spatial planning (building restrictions in hazardous areas, use of green roofs in investments), a system of incentives for investors to promote adaptation activities, ecological education, investments in improving the energy efficiency of buildings. Also identified are the benefits to the real estate sector, e.g. the growing importance of occupations on the real estate market, the development of innovations and increased access to cheaper services and technologies. In Polish cities, high-intensity residential areas are characterized by high sensitivity. MPAs will strengthen the resilience of the city’s technical infrastructure and public space, as well as develop blue and green infrastructure, which may translate into the increased resilience of real estate.

Suggested Citation

  • Wieteska-Rosiak Beata, 2020. "Real Estate Sector in the Face of Climate Change Adaptation in Major Polish Cities," Real Estate Management and Valuation, Sciendo, vol. 28(1), pages 51-63, March.
    • Handle: RePEc:vrs:remava:v:28:y:2020:i:1:p:51-63:n:5
    DOI: 10.2478/remav-2020-0005
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    References listed on IDEAS

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    1. Dylan E. McNamara & Andrew Keeler, 2013. "A coupled physical and economic model of the response of coastal real estate to climate risk," Nature Climate Change, Nature, vol. 3(6), pages 559-562, June.
    2. Dylan E McNamara & Sathya Gopalakrishnan & Martin D Smith & A Brad Murray, 2015. "Climate Adaptation and Policy-Induced Inflation of Coastal Property Value," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-12, March.
    3. Bunten, Devin & Kahn, Matthew E., 2017. "Optimal real estate capital durability and localized climate change disaster risk," Journal of Housing Economics, Elsevier, vol. 36(C), pages 1-7.
    4. Georgia Warren-Myers & Gideon Aschwanden & Franz Fuerst & Andy Krause, 2018. "Estimating the Potential Risks of Sea Level Rise for Public and Private Property Ownership, Occupation and Management," Risks, MDPI, vol. 6(2), pages 1-21, April.
    5. Steven A. McAlpine & Jeremy R. Porter, 2018. "Estimating Recent Local Impacts of Sea-Level Rise on Current Real-Estate Losses: A Housing Market Case Study in Miami-Dade, Florida," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 37(6), pages 871-895, December.
    6. Jose A. Marengo & Luci H. Nunes & Celia R. G. Souza & Joseph Harari & Frank Muller-Karger & Roberto Greco & Eduardo K. Hosokawa & Ernesto K. Tabuchi & Samuel B. Merrill & Catherine J. Reynolds & Mark , 2017. "A globally deployable strategy for co-development of adaptation preferences to sea-level rise: the public participation case of Santos, Brazil," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 88(1), pages 39-53, August.
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    More about this item

    Keywords

    resilience; extreme weather phenomena; buildings; local policy;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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