The Effect of Sea Level Rise on Adjacent Land and the Resulting Land Value Assessment Method

Abstract

Joo, S.-M. and Kim, J.-H., 2021. The effect of sea level rise on adjacent land and the resulting land value assessment method. In: Lee, J.L.; Suh, K.-S.; Lee, B.; Shin, S., and Lee, J. (eds.), Crisis and Integrated Management for Coastal and Marine Safety. Journal of Coastal Research, Special Issue No. 114, pp. 479–483. Coconut Creek (Florida), ISSN 0749-0208. This study aims to infer the possibility of inundation of coastal areas due to sea level rise caused by climate change. In addition, it seeks to present a necessary survey method and value calculation method to be reflected on the land value. To this end, GIS spatial analysis was performed using tidal observation data and flooding maps. The analysis of IPCC sea level rise assuming the worst-case scenario (Scenario 1) and the gradual-case scenario (Scenario 2) of the actual measurement data of the Busan Tide Observatory showed that 3.8%–5.5% of the total land in Haeundae-gu will be at risk of flooding within the next 100 years. Particularly, lands with a relatively high value at present are more vulnerable. If the method of calculating flood-prone areas presented in this study is introduced in the Government's Land Characteristic Evaluation and the standard land value for areas expected to be flooded is accurately assessed, then the economic loss and social confusion caused by future sea level rises can be prevented.