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Cho, Gi-Hyoug
Sustainable Urban Plaaning and Design Lab
Research Interests
  • Urban Planning, Urban Design, Travel Behavior, Urban Heat Island , Spatial Analysis

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Amenity or hazard? The effects of landslide hazard on property value in Woomyeon Nature Park area, Korea

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Title
Amenity or hazard? The effects of landslide hazard on property value in Woomyeon Nature Park area, Korea
Author
Kim, JeongseobPark, JunsungYoon, Dong KeunCho, Gi-Hyoug
Issue Date
2017-01
Publisher
ELSEVIER SCIENCE BV
Citation
LANDSCAPE AND URBAN PLANNING, v.157, pp.523 - 531
Abstract
A nature park in an urban area, which generally includes environmentally valuable natural landscape such as forests, mountains, rivers, and beaches, provides valuable benefits for the public such as recreational opportunities and an aesthetic landscape. However, residents near nature parks could be more vulnerable to natural disasters like floods, tsunamis, and landslides. In order to understand the trade-off between the amenity and hazard effects of nature parks, this study explores the case of the Woomyeon Nature Park (WNP) in Seoul, Korea, which experienced a catastrophic landslide disaster in 2011. The hazard and amenity effects of the WNP before and after a landslide event are analyzed using a difference-in-difference approach with a random coefficient model. The results show that the amenity effect of the WNP has continued after the landslide disaster in apartment complexes near the WNP, but its housing market premiums have fallen by up to 11.3% since the event due to the risk of landslide. The existence of the WNP hazard effect underlines the importance of disaster prevention efforts in urban open space design and management.
URI
https://scholarworks.unist.ac.kr/handle/201301/20559
URL
http://www.sciencedirect.com/science/article/pii/S0169204616301475
DOI
10.1016/j.landurbplan.2016.07.012
ISSN
0169-2046
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