Wilm, Charlotte (2022) The impact of flood risk on property prices. Master thesis.
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Abstract
This research analyzes the impact of flood risk on property prices on the example of Kingston-uponHull in the UK. Due to global warming, natural hazards have become a threat across the world and Europe has been hit by multiples storms and flooding over recent years. Therefore, understanding the various impacts of these hazards gained importance in order to adjust prevention and urban planning of infrastructure and real estate. Based on a hedonic pricing model, I analyze the effect of two floods, in June 2007 and December 2013, on the sales price of real estate property. For my research model I use a sample of 115,157 real estate transactions from 2000-2021 in the Kingston-upon-Hull area. I find evidence that the December 2013 flood had a significant negative impact on real estate property prices (December 2013: -.168; p <.001), whereas there is no clear evidence on the consequences of the June 2007 flood. I contribute to literature by advancing insights on the impact of natural hazards on property prices, specifically investigating floods in isolation (vs. e.g., floods as part of a hurricane), adding to a body of literature characterized by conflicting empirical results.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Vlist, A.J. van der |
| Date Deposited: | 19 Sep 2022 12:14 |
| Last Modified: | 19 Sep 2022 12:14 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/4061 |
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