Abstract
In this study, we evaluated the economic effects of potential flood risk in the Neya River basin with the hedonic approach which relates land price to a variety of environment factors. We introduced height difference between land elevation, high water level, distance from the river, land subsidence of ground, and etc. as environmental factors into a hedonic price function. We found out that the land price is closely influenced by the height difference in the region relatively near the Neya River and that the subsidence, improvement of sewerage system and flood experience has influence on the land price in the region relatively far from the river.
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