An Empirical Investigation of Federal Wetlands Regulation and Flood Delineation: Implications for Residential Property Owners

Guttery, Randall S.; Poe, Stephen L.; Sirmans, C. F.

doi:10.1080/10835547.2004.12091142

Cited by 6 publications

(2 citation statements)

References 15 publications

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“…The impact of flood on property price is often estimated relying on the classic hedonic function [26,31,39,40]. The hedonic model is conducted by regressing the sale price y it of a (complex) good i at a given period t, against all of its intrinsic attributes, denoted X kit , and its extrinsic attributes, Z mit .…”

Section: Methodsmentioning

confidence: 99%

The Spatial and Temporal Decomposition of the Effect of Floods on Single-Family House Prices: A Laval, Canada Case Study

2021

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This paper aims to estimate and decompose the spatial and temporal effect of a flood event occurring in the city of Laval in 1998 using a hedonic pricing model (HPM) based on a difference-in-differences (DID) estimator. The empirical investigation of the impact of flood as a natural disaster must take into account the fact that the negotiation process between buyers and sellers may well occur before the event. It is argued that the evaluation procedure needs to be adjusted to account for this reality because the estimation of the effects may otherwise be biased and isolate other effects. To test this hypothesis, the study focuses on transactions occurring between (1995 and 2001) and within designated floodplains to adequately isolate and decompose the impact of flood. The original database contains information on 252 single-family houses transactions. The results suggest that the estimation of the impact is time dependent, with a measured negative effect appearing several months after the flood, suggesting that the impact is hard to establish right after the event since transactions, and the final sale price, could have been fixed by negotiations well before the event. The statistical methodological framework of flood research should be adapted to account for the negotiation process occurring prior to the flood event to be able to correctly isolate the impact for the after event. The flooded area also needs to be precisely identified to be able to correctly estimate the flood impact on houses that have faced flood.

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Section: Methodsmentioning

confidence: 99%

The Spatial and Temporal Decomposition of the Effect of Floods on Single-Family House Prices: A Laval, Canada Case Study

2021

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“…A number of studies indicated that the occurrence of flooding reduces a property value compared to similar properties without flooding (Eves, 2002; Eves et al , 2010; Guttery et al , 2004). Kauko et al (2002) reviewed empirical literature and found flooding and drought to be an extreme negative and to cause a reduction in property value.…”

Section: Impacts Of Predicted Climate Change On the Malaysian Real Estate Sectormentioning

confidence: 99%

Impacts and adaptation to climate change in Malaysian real estate

Shahid¹,

Pour

Wang

et al. 2017

IJCCSM

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Purpose There is a growing concern in recent years regarding climate change risks to real estate in the developed and developing countries. It is anticipated that the property sector could be affected by variable climate and related extremes as well as by the strategies adopted to combat greenhouse gas (GHG) emissions. This paper aims to analyse the current knowledge regarding future climate changes to understand their possible impacts on the real estate sector of Malaysia with an aim to help stakeholders to adopt necessary responses to reduce negative impacts. Design/methodology/approach Available literature is reviewed and data related to climatic influences on buildings and structures are analysed to understand the climate change impacts on real estate in Malaysia. Findings The study reveals that temperature in the Peninsular Malaysia will increase by 1.1 to 3.6°C, rainfall will be more variable and river discharge in some river basins will increase up to 43 per cent during the northeast monsoon season by the end of this century. These changes in turn will pose risks of property damage and increase property lifecycle costs. Furthermore, property prices and the overall growth of the property sector may be affected by the government policy of GHG emission reduction by up to 45 per cent by the year 2030. This study concludes that the property sector of Malaysia will be most affected by the implementation of GHG emission reduction policy in the short term and due to the physical risk posed by variable climate and related extremes in the long term. Originality/value The study in general will assist in guiding the operational responses of various authorities, especially in terms of those interventions aimed at climate change risk reduction in the property sector of Malaysia.

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Wetlands and open space: The impact of environmental regulations on land use patterns

Gnagey

2018

Journal of Environmental Management

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An Empirical Investigation of Federal Wetlands Regulation and Flood Delineation: Implications for Residential Property Owners

Cited by 6 publications

References 15 publications

The Spatial and Temporal Decomposition of the Effect of Floods on Single-Family House Prices: A Laval, Canada Case Study

The Spatial and Temporal Decomposition of the Effect of Floods on Single-Family House Prices: A Laval, Canada Case Study

Impacts and adaptation to climate change in Malaysian real estate

Wetlands and open space: The impact of environmental regulations on land use patterns

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