Spatially Heterogeneous Effects of Flood Hazards on Housing Prices: A Case Study of Nanjing, China
摘要
This paper evaluates the impact of urban flood risk on housing prices using historical heavy rainfall and flood simulation data. The authors analyzed a dataset of 2055 second-hand residential prices, finding that flooding does not significantly disrupt the housing market in Nanjing. Quantile regressions indicate that a 1 km flood inundation area notably affects high-priced neighborhoods, while proximity to waterlogged areas has a greater impact on low-priced neighborhoods. Geographically weighted regressions show spatial variability in how flooding influences housing prices. Sensitivity to flooding is primarily concentrated in areas characterized by low-lying terrain, aging neighborhoods, topographical constraints, underdeveloped infrastructure, or lower-intensity urban development. Factors such as building characteristics, location attributes, and neighborhood features significantly influence the relationship between flooding and housing prices.