Building Disaster Resilient Cities and Communities I

[045] Effect of Designating Tsunami Disaster Alert Areas on Housing Land Prices

Jun Sakamoto, Tomoki MICHIBATA

Keywords:Tsunami disaster alert area, Propensity score matching, Difference-in-difference

This study investigates whether designating tsunami disaster alert areas influences housing land prices in the estimated tsunami inundation areas. The analyzed event is the “Tsunami Disaster Prevention Community Development Law,” enacted in 2011 in Japan. Some local governments designated “estimated tsunami inundation areas” as “tsunami disaster alert areas” after the enaction of the law. We developed a difference-in-difference model using propensity score matching. The data for this study was official land price data and estimated tsunami inundation data at the standard point. Results showed a significant effect of designating tsunami disaster alert areas on the value of housing land prices.