Abstract
This paper extends the analysis of “Agricultural Property and the 1948 Palestinian Refugees: Assessing the Loss” [Lewis, F.D., 1996. Agricultural Property and the 1948 Palestinian Refugees: Assessing the Loss, Explorations in Economic History 33, 169–194] to non-agricultural property. The urban property abandoned by refugees is valued on the basis of transfer prices, tax payable, and inferences about rent. The estimated value of the property is much higher than was reported by the United Nations Conciliation Commission in 1951. Still the total implied by this paper and [Lewis, 1996] is such that if Israel were to pay the overall loss as compensation, the transfers are unlikely to have a serious impact on its economy.
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