Abstract
The article attempts to determine the effect of perceived flood risk, based on identified flood hazard zones, on the level of activity in the market of land property designated for housing developments in the historical town of Sandomierz, Poland. The study employed graphical, analytical, quantitative methods, and spatial analyses with GIS tools. The proposed methodology, involving spatial interpolation of the phenomenon (Kernel Density Estimation (KDE) and Inverse Distance Weighting (IDW)) and an expert opinion survey, facilitates the assessment of the market activity in towns where transactions are scarce. Trade in property is lower in areas at risk of flooding than for the remaining parts of the town. The potential flood hazard zone affects both the activity of the property market and the average prices of land. The study demonstrated that both a flood and flood risk affect the levels of market activity and the prices of residential land. However, this impact differs at various times and locations and is greater immediately after a flood. Properties located in the most attractive location within an area are characterised by a greater sensitivity to this risk.
Highlights
One of the goals of sustainable development is to provide better and safer living conditions for inhabitants
This study focused on identifying market vulnerability by comparing segments of the property market, that is, the number of total house (TH) sales, new house and land (HL) package sales, and land only (LO) sales before and after the 2011 floods
The analysis of trade in undeveloped land properties designated for low-rise housing development i3n.1S. aSntadgoem1:ieIdrzenwtifaiscabtiaosnedanodnLmocaattieorniaolfsFolroiogdinHaatzinargdfArormeasthinetRheegTioswtenr ooffSParnodpoemrtieyrzPrices and Values, provided by the County Office in Sandomierz
Summary
One of the goals of sustainable development is to provide better and safer living conditions for inhabitants. Measures have been taken to force relevant authorities to determine flood hazard areas through such means as flood hazard maps [5,6,7]. This policy, which involves the determination of the location of hazards and demarcation of restricted use areas, is aimed at highlighting the potential risk based on historical information of flood events. This phenomenon may be referred to as ‘information pressure’. Information on flood hazard shapes the awareness of businesses operating in the property market [9]
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