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

Author

Listed:
  • SATO Keiichi
  • MATSUURA Hiroaki
  • TANAKA Yozo
  • NAGAMATSU Shingo
  • OOI Masahiro
  • OHARA Miho
  • HIROI Yuu

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.

Suggested Citation

  • SATO Keiichi & MATSUURA Hiroaki & TANAKA Yozo & NAGAMATSU Shingo & OOI Masahiro & OHARA Miho & HIROI Yuu, "undated". "The Effects of Disaster Risk Information on the Real Estate Market in Japan: A Hedonic Approach(in Japanese)," ESRI Discussion paper series 327, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esj:esridp:327
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    File URL: http://www.esri.go.jp/jp/archive/e_dis/e_dis327/e_dis327.pdf
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    Cited by:

    1. Yasuhiro Sato & Keita Shiba, 2021. "The impact of Tsunamis on land appraisals: Evidence from Western Japan," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-14, April.

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