침수 위험 정보 공개가 주택가격에 미치는 영향: 서울 양천구와 강서구를 대상으로

Abstract

Recently, The frequency of severe natural disasters has increased due to the climate change. In Korea, one of the most representative natural disasters is a severe rain storm. In this regard, many urban areas are vulnerable to inundation. Hence, it is necessary to provide natural hazard information so that people are more likely to aware of the risk in their neighborhood. However, some people are concerned about the fact that hazard information notice may decrease their property value. Therefore, this study investigates the effects of Inundation Hazard Information Notice on property value in Yangcheon-gu and Gangseo-gu, Seoul. The study analyzes the effects of inundation map provided by Seoul on property value by using a hedonic price model with multi-level regression and a difference-in-difference method. The results indicate that the inundation map does not influence housing values except for semi-basement. However, the effects of the inundation hazard on semi-basement’s values(8.9%) were already reflected before the information notice. Hence, this study may contribute to persuading people who oppose the policy of inundation hazard information notice.