IDEAS home Printed from https://ideas.repec.org/p/osp/wpaper/21j009.html
   My bibliography  Save this paper

Empirical Analysis of the Effect of the Infection and Damage of COVID-19 on Land Prices

Author

Listed:
  • Ryuji Kutsuzawa

    (Ministry of Land, Infrastructure, Transport and Tourism)

  • Nobuo Akai

    (Osaka School of International Public Policy, Osaka University)

  • Toru Takemoto

    (Professor, Nihon University, College of Law)

Abstract

During the outbreak of the coronavirus 2019 disease (COVID-19), social distance and telework is encouraged to prevent the infection and the demand for houses,shops and offices including location and style is changing,as a result,the change will be reflected in land prices. Therefore,this paper will analyze the effects of the number of COVID-19 cases and deaths per capita on land prices through changes in residents'preferences for residential and commercial land by using a fixed effect model with panel data of land prices compiled by the Japanese government and an instrumental variable to cope with the endogeneity of COVID-19 cases and deaths. The results show that 1) the number of COVID-19 cases and deaths per capita have negative impacts on land prices, 2) the infection and damage of COVID-19 affects land prices in commercial areas greater than those in residential areas, 3) COVID-19 has greater influence on land prices at the point where land is highly used and the floor area ratio is higher.

Suggested Citation

  • Ryuji Kutsuzawa & Nobuo Akai & Toru Takemoto, 2021. "Empirical Analysis of the Effect of the Infection and Damage of COVID-19 on Land Prices," OSIPP Discussion Paper 21J009, Osaka School of International Public Policy, Osaka University.
    • Handle: RePEc:osp:wpaper:21j009
    as

    Download full text from publisher

    File URL: http://www.osipp.osaka-u.ac.jp/archives/DP/2021/DP2021J009.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    COVID-19，official land price; fixed effect analysis;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osp:wpaper:21j009. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akiko Murashita (email available below). General contact details of provider: https://edirc.repec.org/data/iposujp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.