재해위험정보 노출이 주거용 부동산가격에 미치는 영향

With the increasing natural disaster due to climate change, many studies have been performed on the relationship between disaster hazards and residential property prices in developed countries. Most of them showed that disaster hazards decrease residential property prices. However, several studies found that there is no significant relationship between them or rather disaster hazards increase residential property prices. The purpose of this study is to analyze the effect of disaster hazards information on the residential property prices in case of Seoul using a hierarchical linear model. The flood prone areas are classified into the degree of hazard information disclosures. The result of this study shows that residential property prices within the flood prone area without hazard information are higher than an equivalent property outside the flood prone area. However, residential property prices within the flood prone area with hazard information are lower than an equivalent property outside the flood prone area. The more hazard information is released, the more residential property prices. This suggests that the disaster hazards information should be shared in order to operate the function of the real estate market rationally.