{"title":"Wind and Water: How Extreme Weather Conditions Impact Residential Real Estate in Developing Countries","authors":"Nekeisha Spencer","doi":"10.1007/s13753-023-00518-6","DOIUrl":null,"url":null,"abstract":"Abstract The damaging effects of extreme weather is concerning for many countries across the globe. Though the impact of these events on the housing market has been studied extensively, one aspect that remains unexplored is the value of mortgages. Further, there is no clarity on the impact of the specific types of homes. This study analyzed mortgages and apartment values and included residential land sale prices over 16 years for different localities across Jamaica. The analysis revealed that mortgages are adversely affected by excess rainfall while apartment sale prices are reduced by hurricanes but increased by excess rain. However, residential land prices remain unaffected by both events. The results point to the importance of climate adaptation for the local real estate market and property investment.","PeriodicalId":48740,"journal":{"name":"International Journal of Disaster Risk Science","volume":"43 1","pages":"0"},"PeriodicalIF":2.9000,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Disaster Risk Science","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1007/s13753-023-00518-6","RegionNum":2,"RegionCategory":"地球科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"GEOSCIENCES, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract The damaging effects of extreme weather is concerning for many countries across the globe. Though the impact of these events on the housing market has been studied extensively, one aspect that remains unexplored is the value of mortgages. Further, there is no clarity on the impact of the specific types of homes. This study analyzed mortgages and apartment values and included residential land sale prices over 16 years for different localities across Jamaica. The analysis revealed that mortgages are adversely affected by excess rainfall while apartment sale prices are reduced by hurricanes but increased by excess rain. However, residential land prices remain unaffected by both events. The results point to the importance of climate adaptation for the local real estate market and property investment.
期刊介绍：
The International Journal of Disaster Risk Science (IJDRS) provides a pioneering platform for researchers and practitioners aiming at greater resilience and integrated risk governance in view of local, regional, and global disasters. IJDRS breaks new ground in research about disaster risks by connecting in-depth studies of actual disasters and of specific practices of disaster risk management with investigations of the global dynamics of disaster risks and theories and models relevant for advanced integrated risk governance.
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