This article, based on a case study of Kobe city just before and after the great earthquake, examines the necessity and effectiveness of incorporating variables that represent the characteristics of local societies, such as income and social wealth, into an analysis of land price differences using the hedonic hypothesis. The authors conclude that income levels may contribute to the land price difference between localities and suggest including these characteristics in the compensation process for reconstruction and development projects planned in the area just after the great earthquake.
Incorporating Land Characteristics into Land Valuation for Reconstruction Areas
.png)
wr20
(4.86MB)
