Drought and property Prices: Empirical Evidence from Iran

This study demonstrates an economic consequence of climate change and water crises in Iran. It examines the effect of drought on housing prices, residential land prices, and housing rents in Iran. Using data from provinces of Iran from 1993 to 2015 and applying static and dynamic panel fixed effects...

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Bibliographic Details
Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 16-2019)
Main Authors: Farzanegan, Mohammad Reza, Feizi, Mehdi, Fereidouni, Gholipour
Format: Article
Language:English
Published: Philipps-Universität Marburg 2019
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Online Access:PDF Full Text
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Summary:This study demonstrates an economic consequence of climate change and water crises in Iran. It examines the effect of drought on housing prices, residential land prices, and housing rents in Iran. Using data from provinces of Iran from 1993 to 2015 and applying static and dynamic panel fixed effects estimators, we find evidence that an increase in the balance of water (reducing the severity of drought) within provinces has a positive effect on property prices. Our results have important implications for Iranian policymakers and property investors.
Physical Description:34 Pages
ISSN:1867-3678
DOI:10.17192/es2024.0611