Journal of the Architectural Institute of Korea (대한건축학회논문집)

Architectural Institute of Korea (대한건축학회)
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Assessing the Impact of a Man-made Earthquake Disaster on Regional House Prices: Proposing a Recovery Policy Direction with a Focus on the Pohang Earthquake

지진재해가 지역 주택가격에 미치는 영향과 복구정책 수립 방향 - 포항지진을 중심으로 -

  • Lee, Chijoo (Construction Economy & Industry Research Division, Korea Research Institute for Human Settlements)
  • 이치주 (국토연구원 건설경제산업연구본부 )
  • Received : 2023.04.06
  • Accepted : 2023.05.10
  • Published : 2023.05.30
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Abstract

This study analyzes the impact of a man-made earthquake triggered by the government announcement on regional house prices in Pohang-si, South Korea. The findings reveal a short-term decline in house prices that lasted for approximately one month, followed by a more significant prolonged decline lasting over a year. The study further indicates that residents may experience greater anxiety over man-made disasters compared to natural disasters, leading to indirect losses that affect high-priced houses more than low-priced ones. Based on these findings, a recovery policy focused on improving resident satisfaction through urban regeneration, and adding new amenities and facilities was proposed. These measures aim to counteract the negative effects of house price declines and provide reference data for calculating indirect losses and establishing recovery measures in the aftermath of disasters.

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References

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