Climate Change Adaptation and Property Values

This paper surveys the current literature of the impact of climate change adaptation on residential property values. Several categories of adaptation are considered including ecosystem management, structural management, and land use and institutional controls. Since adaptation measures are expected to provide a decrease in risk to property owners, they are expected to increase values, but may also have negative impacts on the owners, or on others nearby. Thus, empirical tests of the impact are needed. This paper discusses the quality of the data used in each study, as well as the appropriateness of the estimation technique. Where the research appears to have answered the question as well as gaps that remain in the literature are noted.