Flood risk information effects on land price fluctuation

Using “Safety level map of chi-saki”

Abstract

Because of expected climate change, flood disasters causing severe damage are expected to occur more frequently. Moreover, conventional disaster control might be insufficient for large disasters. In Shiga, the "Safety level map of chi-saki" was published, revealing more detailed information about flood risks than a normal hazard map would. According to the capitalization hypothesis, land prices are influenced by disaster risk. This study assessed risk recognition by residents as reflected in land prices and the risk to the land itself as shown in the “Safety level map of chi-saki.” We sought to confirm a relation between risk recognition by residents and risk to the land itself. Results revealed the following. 1) Land prices do not incorporate flood risk. 2) Possible misconceptions might occur between risk recognition by residents and the risk to the land itself.